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Registered number: 02133630
Calber Facilities Management Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—7
Statement of Comprehensive Income 8
Statement of Financial Position 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—19
Page 1
Strategic Report
The directors present their strategic report for the year ended 31 December 2023.
Review of the Business
The company has reported sales for the year ended 31 December 2023 amounting to £18,079,818 compared to £16,503,442 for the year to 31 December 2022.  Post tax profits were £310,610 for the year ended 31 December 2023 compared to £510,699 for the year to 31 December 2022.
Principal Risks and Uncertainties
The Directors consider that the principal risks and uncertainties to the business are those relating to the prevailing economic conditions. The Directors assess and identify risks that the company is subject to at their regular meetings and seek to implement operating procedures and financial controls to mitigate those risks. Where necessary the Directors will seek advice from relevant professional advisors.
The Company has adopted risk management policies that seek to mitigate the financial risks as follows:
Credit risk
Financial assets and liabilities that expose the Company to financial risk consist principally of cash, trade debtors and trade creditors.
The credit risk associated with trade debtors is managed by monitoring the credit worthiness of our clients. Trade debtors are distributed in such a manner that the concentration of credit risk is not considered extraordinary.
The financial risk associated with cash and trade creditors is considered minimal as the Company places its cash in creditworthy institutions and performs ongoing credit evaluation of its suppliers’ financial condition.
Future Developments
The Key Performance Indicators presented below reflect the way the performance of the Company has been measured in 2023:
• Revenue by department – to track the growth in the business.
• New contracts
• Profit before tax – to track the underlying performance of the business.
• Overheads
• Labour costs
The directors are satisfied with the performance of the company during the year with regard to the indicators set out above.
Subsequent Events
There have been no changes to the business activities or risk profile of the Company subsequent to the end of the reporting period.  There have been no changes to the Company’s directors since the end of the reporting period.
2024 Focus
Looking forward, the strategy for the Company is to expand in key areas of the business and to meet expectations with regards to KPI’s.  Calber continues to expand its customer and geographical base and is expanding its activities and also providing additional services for existing clients. The Directors are looking forward to another very positive year to December 2024.
On behalf of the board
Mr L Cannings
Director
2 August 2024
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2023.
Principal Activity
The company's principal activity continues to be that of facilities management.
Directors
The directors who held office during the year were as follows:
Mr L Cannings
Mr A Doman
Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Page 3
Independent Auditors
The auditors, UHY Ross Brooke, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr L Cannings
Director
2 August 2024
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of Calber Facilities Management Limited for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
Page 4
Page 5
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of directors' remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Page 5
Page 6
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
  • the nature of the industry and sector, control environment and business performance including the company's remuneration policy, bonus levels and performance targets;
  • the company's own assessment, including assessments made by key management, of the risks that irregularities may occur either as a result of fraud or error;
  • any matters we identified having reviewed the company's policies and procedures relating to:
identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
  • the matters discussed amongst the engagement team.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement, such as the measurement of work in progress. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.  The key laws and regulations we considered in this context were the Companies Act, tax legislation and environmental regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 6
Page 7
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Caroline Webster (Senior Statutory Auditor)
for and on behalf of UHY Ross Brooke , Statutory Auditor
6 August 2024
UHY Ross Brooke
Suite I, Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY
Page 7
Page 8
Statement of Comprehensive Income
2023 2022
Notes £ £
TURNOVER 3 18,079,818 16,503,442
Cost of sales (14,661,156 ) (12,889,776 )
GROSS PROFIT 3,418,662 3,613,666
Administrative expenses (2,984,082 ) (2,960,577 )
Other operating income 10,000 10,000
OPERATING PROFIT 5 444,580 663,089
Interest payable and similar charges 10 (31,101 ) (17,906 )
PROFIT BEFORE TAXATION 413,479 645,183
Tax on Profit 11 (102,869 ) (134,484 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 310,610 510,699
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 310,610 510,699
The notes on pages 12 to 19 form part of these financial statements.
Page 8
Page 9
Statement of Financial Position
Registered number: 02133630
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 12 1,274,065 1,331,548
Investment Properties 13 174,963 174,963
1,449,028 1,506,511
CURRENT ASSETS
Stocks 14 14,964 25,495
Debtors 15 3,626,057 3,268,234
Cash at bank and in hand 98,602 188,939
3,739,623 3,482,668
Creditors: Amounts Falling Due Within One Year 16 (2,242,281 ) (2,012,307 )
NET CURRENT ASSETS (LIABILITIES) 1,497,342 1,470,361
TOTAL ASSETS LESS CURRENT LIABILITIES 2,946,370 2,976,872
Creditors: Amounts Falling Due After More Than One Year 17 (442,492 ) (711,165 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 19 (59,426 ) (71,865 )
NET ASSETS 2,444,452 2,193,842
CAPITAL AND RESERVES
Called up share capital 21 100 100
Income Statement 2,444,352 2,193,742
SHAREHOLDERS' FUNDS 2,444,452 2,193,842
On behalf of the board
Mr A Doman
Director
2 August 2024
The notes on pages 12 to 19 form part of these financial statements.
Page 9
Page 10
Statement of Changes in Equity
Share Capital Income Statement Total
£ £ £
As at 1 January 2022 100 1,743,043 1,743,143
Profit for the year and total comprehensive income - 510,699 510,699
Dividends paid - (60,000) (60,000)
As at 31 December 2022 and 1 January 2023 100 2,193,742 2,193,842
Profit for the year and total comprehensive income - 310,610 310,610
Dividends paid - (60,000) (60,000)
As at 31 December 2023 100 2,444,352 2,444,452
Page 10
Page 11
Statement of Cash Flows
2023 2022
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 241,200 399,228
Interest paid (31,101 ) (17,906 )
Tax paid (66,621 ) (190,065 )
Net cash generated from operating activities 143,478 191,257
Cash flows from investing activities
Purchase of tangible assets (45,664 ) (1,059,679 )
Cash flows from financing activities
Equity dividends paid (60,000 ) (60,000 )
Proceeds from new bank borrowings - 475,000
Repayment of bank borrowings (79,922 ) -
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 (297,270 ) (219,070 )
Decrease in cash and cash equivalents (199,456 ) (1,087,492 )
Cash and cash equivalents at beginning of year 2 159,675 1,243,561
Foreign exchange gains on cash and cash equivalents - 3,606
Cash and cash equivalents at end of year 2 (39,781 ) 159,675
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2023 2022
£ £
Profit for the financial year 310,610 510,699
Adjustments for:
Tax on profit 102,869 134,484
Interest expense 31,101 17,906
Depreciation of tangible assets 103,147 80,313
Foreign exchange gains - (3,606)
Movements in working capital:
Decrease/(increase) in stocks 10,531 (8,345 )
Increase in trade and other debtors (357,823 ) (349,824 )
Increase in trade and other creditors 40,765 17,601
Net cash generated from operations 241,200 399,228
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2023 2022
£ £
Cash at bank and in hand 98,602 188,939
Overdraft facilities repayable on demand (138,383 ) (29,264 )
Cash and cash equivalents as stated in the Statement of Cash Flows (39,781) 159,675
3. Analysis of changes in net debt
As at 1 January 2023 Cash flows As at 31 December 2023
£ £ £
Cash at bank and in hand 188,939 (90,337) 98,602
Overdraft facilities repayable on demand (29,264) (109,119) (138,383)
Cash and cash equivalents 159,675 (199,456) (39,781 )
Debts falling due within one year (83,809 ) (95,530) (179,339 )
Debts falling due after more than one year (711,165) 268,673 (442,492)
(635,299) (26,313) (661,612)
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Notes to the Financial Statements
1. General Information
Calber Facilities Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02133630 . The registered office is The Glenmore Centre Grove Technology Park, Downsview Road, Wantage, Oxfordshire, OX12 9GN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for facilities management services and associated consumables, and is shown net of VAT.
Sale of consumables
Revenue from the sale of consumables is recognised when the significant risks and rewards of ownership of the goods has transferred to the client. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 1% straight line
Leasehold 10% straight line
Plant & Machinery 25% reducing balance/25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises materials and related costs that have been incurred in bringing stocks to their present location and condition.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Turnover
Analysis of turnover by class of business is as follows:
2023 2022
£ £
Facilities management 18,079,818 16,503,441
4. Other Operating Income
2023 2022
£ £
Rental income 10,000 10,000
10,000 10,000
5. Operating Profit
The operating profit is stated after charging:
2023 2022
£ £
Operating lease rentals 79,781 69,472
Exchange differences - (3,606 )
Depreciation of tangible fixed assets 103,147 80,313
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6. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2023 2022
£ £
Audit Services
Audit of the company's financial statements 10,448 8,250
7. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2023 2022
£ £
Wages and salaries 11,031,158 9,905,696
Social security costs 697,716 632,636
Other pension costs 196,141 173,466
11,925,015 10,711,798
8. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 46 46
Manufacturing 405 405
451 451
9. Directors' remuneration
2023 2022
£ £
Emoluments 99,000 99,000
Company contributions to money purchase pension schemes 17,789 17,667
116,789 116,667
The number of directors to whom retirement benefits were accruing was as follows:
2023 2022
Defined benefit pension schemes 2 2
10. Interest Payable and Similar Charges
2023 2022
£ £
Bank loans and overdrafts 31,101 17,906
31,101 17,906
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11. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2023 2022
2023 2022 £ £
Current tax
UK Corporation Tax 23.5% 19.0% 115,308 66,621
Deferred Tax
Deferred taxation (12,439 ) 67,863
Total tax charge for the period 102,869 134,484
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:
2023 2022
£ £
Profit before tax 413,479 645,183
Tax on profit at 23.5% (UK standard rate) 97,168 122,585
Expenses not deductible for tax purposes 5,086 11,221
Short term timing differences 615 678
Total tax charge for the period 102,869 134,484
12. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 1,241,047 299,199 598,005 527,219 2,665,470
Additions 9,816 8,462 22,495 4,891 45,664
As at 31 December 2023 1,250,863 307,661 620,500 532,110 2,711,134
Depreciation
As at 1 January 2023 116,702 247,000 535,478 434,742 1,333,922
Provided during the period 27,319 13,468 24,613 37,747 103,147
As at 31 December 2023 144,021 260,468 560,091 472,489 1,437,069
Net Book Value
As at 31 December 2023 1,106,842 47,193 60,409 59,621 1,274,065
As at 1 January 2023 1,124,345 52,199 62,527 92,477 1,331,548
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13. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 174,963
Investment property comprises a business property at Glenmore Centre, Grove Technology Park, Wantage. The fair value of the investment property has been arrived at on the basis of its purchase price in December 2019. The directors believe that this remains a reasonable approximation to its fair value at the period end.
14. Stocks
2023 2022
£ £
Stock 14,964 25,495
15. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,258,107 2,861,388
Prepayments and accrued income 112,935 87,940
Other debtors 254,682 316,573
Staff loans 333 2,333
3,626,057 3,268,234
16. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 745,513 880,681
Bank loans and overdrafts 317,722 113,073
Corporation tax 115,308 66,621
Other taxes and social security 244,363 167,145
VAT 425,132 578,588
Net wages 291,121 -
Other creditors 1,399 1,113
Accrued defined contributions payments 38,479 35,865
Accruals and deferred income 51,650 93,500
Directors' loan accounts 11,594 75,721
2,242,281 2,012,307
17. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 442,492 617,944
Other loans - 93,221
442,492 711,165
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18. Loans
An analysis of the maturity of loans is given below:
2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 179,339 83,809
179,339 83,809
2023 2022
£ £
Amounts falling due between one and five years:
Bank loans 442,492 617,944
Other loans - 93,221
442,492 711,165
19. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 59,426 71,865
20. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 71,865 71,865
Utilised (12,439 ) (12,439)
Balance at 31 December 2023 59,426 59,426
21. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
22. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 30,240 30,240
Later than one year and not later than five years 17,640 47,880
47,880 78,120
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23. Pension Commitments
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £196,141 (2022: £173,466)
24. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr A Doman 30,000 30,000
Mr L Cannings 30,000 30,000
25. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 60,000 60,000
60,000 60,000
26. Related Party Disclosures
During the year sales and purchases with a parnership in which one of the directors is a partner were made at arms length of £2,717 (2022 £21,063) and £277,615 (2022 £293,318) respectively.  At the reporting date the company owed £73,945 (2022 £77,830) to and was owed £797 (2022 £216) by the partnership.
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