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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 |
5 |
Independent auditor's report to the members |
7 |
Statement of comprehensive income |
12 |
Statement of financial position |
13 |
Statement of changes in equity |
14 |
Statement of cash flows |
15 |
Notes to the financial statements |
16 |
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Officers and Professional Advisers |
The board of directors |
G J Vaughton (Resigned 2 June 2023)
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Company secretary |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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Tower House |
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Lucy Tower Street |
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Lincoln |
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LN1 1XW |
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Bankers |
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HSBC Bank plc. |
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84 High Street |
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Scunthorpe |
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North Lincolnshire |
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DN15 6HQ |
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Strategic Report |
2023 | 2022 | ||
£ | £ | ||
Energy Consumption used to calculate emissions (kWh) | 808,055 | 512,449 | |
Emissions in metric tonnes CO2e | |||
Purchased Electricity | 49 | 41 | |
Gas Consumption | 7 | 10 | |
Owned Vehicles | 132 | 70 | |
Total Emissions in metric tonnes CO2e | 188 | 121 | |
Emissions in metric tonnes CO2e per £million of turnover | 5 | 3 | |
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Director |
Director |
Registered office: |
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Directors' Report |
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D Weighill
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(Appointed
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(Resigned
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D Weighill
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Director |
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 |
Tower House |
Lucy Tower Street |
Lincoln |
LN1 1XW |
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Statement of Comprehensive Income |
2023 |
2022 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
(
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(
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--------------- |
--------------- |
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Gross profit |
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Distribution costs |
(
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(
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Administrative expenses |
(
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(
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Operating profit/(loss) |
5 |
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(
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Interest payable and similar expenses |
9 |
(
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(
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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
10 |
(
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Profit/(loss) for the financial year and total comprehensive income |
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(
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---------- |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Tangible assets |
12 |
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Stocks |
13 |
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Debtors |
14 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
15 |
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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 |
16 |
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Taxation including deferred tax |
17 |
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Net assets |
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Called up share capital |
20 |
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Capital redemption reserve |
21 |
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Profit and loss account |
21 |
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Shareholders funds |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 January 2022 |
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Loss for the year |
(
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(
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Total comprehensive income for the year |
– |
– |
(
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(
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Dividends paid and payable |
11 |
– |
– |
(
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(
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---- |
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Total investments by and distributions to owners |
– |
– |
(
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(
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At 31 December 2022 |
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Profit for the year |
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---- |
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Total comprehensive income for the year |
– |
– |
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Dividends paid and payable |
11 |
– |
– |
(
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(
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Redemption of shares |
(
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(
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(
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---- |
---- |
---------- |
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Total investments by and distributions to owners |
(
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(
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(
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---- |
---------- |
-------------- |
-------------- |
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At 31 December 2023 |
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---- |
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Statement of Cash Flows |
2023 |
2022 |
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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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Interest payable and similar expenses |
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Tax on profit/(loss) |
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(
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Accrued income |
(
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(
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Changes in: |
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Stocks |
(
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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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Tax paid |
(
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(
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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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Net cash used in investing activities |
(
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(
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Purchase of own shares |
(
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– |
Proceeds from borrowings |
(
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(
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Repayments of borrowings |
– |
(
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Dividends paid |
(
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(
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------------- |
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Net cash used in financing activities |
(
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(
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------------- |
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
1,421,696 |
2,402,546 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Leasehold property |
- |
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Plant and machinery |
- |
25% - 33% straight line
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
25
% straight line |
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2023 |
2022 |
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£ |
£ |
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Sale of goods |
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--------------- |
--------------- |
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2023 |
2022 |
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£ |
£ |
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United Kingdom |
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Overseas |
– |
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--------------- |
--------------- |
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--------------- |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
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Impairment of trade debtors |
4,089 |
(60,583) |
Operating lease rentals |
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Foreign exchange differences |
(
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(
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Stock write down |
– |
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---------- |
------------- |
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2023 |
2022 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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--------- |
--------- |
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Taxation advisory services |
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Other non-audit services |
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--------- |
--------- |
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20,130 |
19,670 |
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--------- |
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2023 |
2022 |
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No. |
No. |
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Administrative staff |
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Management staff |
6 |
6 |
Sales staff |
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---- |
---- |
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---- |
---- |
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2023 |
2022 |
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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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------------- |
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2023 |
2022 |
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£ |
£ |
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Remuneration |
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---------- |
---------- |
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2023 |
2022 |
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No. |
No. |
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Defined contribution plans |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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---------- |
---------- |
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2023 |
2022 |
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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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---------- |
--------- |
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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/(loss) |
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(
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---------- |
--------- |
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2023 |
2022 |
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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 |
– |
(
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Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
(
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(
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------------- |
---------- |
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Tax on profit/(loss) |
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(
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------------- |
---------- |
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2023 |
2022 |
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£ |
£ |
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Equity dividends on ordinary shares |
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--------- |
---------- |
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Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Jan 2023 |
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190,475 |
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Additions |
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37,495 |
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--------- |
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At 31 Dec 2023 |
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227,970 |
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Depreciation |
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At 1 Jan 2023 |
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119,465 |
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Charge for the year |
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21,357 |
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--------- |
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At 31 Dec 2023 |
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140,822 |
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--------- |
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Carrying amount |
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At 31 Dec 2023 |
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87,148 |
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--------- |
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At 31 Dec 2022 |
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71,010 |
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--------- |
---------- |
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---------- |
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2023 |
2022 |
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£ |
£ |
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Finished goods and goods for resale |
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--------------- |
--------------- |
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Deferred tax asset |
– |
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Prepayments and accrued income |
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Other debtors |
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--------------- |
--------------- |
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--------------- |
--------------- |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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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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Director loan accounts |
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Other creditors |
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------------- |
--------------- |
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------------- |
--------------- |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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------------- |
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Deferred tax (note 18) |
|
£ |
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At 1 January 2023 |
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Charge against provision |
(
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---------- |
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At 31 December 2023 |
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---------- |
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2023 |
2022 |
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£ |
£ |
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Included in debtors (note 14) |
– |
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Included in provisions (note 17) |
(
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(
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---------- |
---------- |
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(
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(
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---------- |
---------- |
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2023 |
2022 |
|
£ |
£ |
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Accelerated capital allowances |
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---------- |
--------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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|
850 |
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875 |
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|
20 |
|
20 |
--------- |
---- |
--------- |
---- |
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--------- |
---- |
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---- |
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No. |
£ |
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At 1 January 2023 |
|
875 |
Shares redeemed |
(2,500) |
(25) |
--------- |
---- |
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At 31 December 2023 |
|
850 |
--------- |
---- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(423,804) |
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Debt due within one year |
(3,954,892) |
1,754,295 |
(2,200,597) |
Debt due after one year |
(1,808,333) |
700,000 |
(1,108,333) |
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(
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(
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Notes to the Financial Statements (continued) |
2023 |
2022 |
|
£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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Later than 5 years |
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