Director
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21 August 2024
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Director
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for and on behalf of
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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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Distribution costs |
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Administrative expenses |
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OPERATING PROFIT | 4 |
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Loss on disposal of fixed assets |
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Other interest receivable and similar income | 9 |
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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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( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 12 |
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CURRENT ASSETS | |||||
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 (LIABILITIES) |
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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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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 18 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 20 |
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Capital redemption reserve |
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Income Statement |
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SHAREHOLDERS' FUNDS | 23,512 | 386,173 | |||
Director
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Share Capital | Capital Redemption | Income Statement | Total | |
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£ | £ | £ | £ | |
As at 1 December 2021 |
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312,670 |
Profit for the year and total comprehensive income | - | - |
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384,003 |
Dividends paid | - | - | (310,500) | (310,500) |
As at 30 November 2022 and 1 December 2022 |
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386,173 |
Profit for the year and total comprehensive income | - | - |
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421,110 |
Dividends paid | - | - | (172,000) | (172,000) |
Purchase of own shares |
( |
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( |
(611,771) |
As at 30 November 2023 |
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23,512 |
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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Proceeds from disposal of tangible assets |
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Interest received |
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Net cash used in investing activities |
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Cash flows from financing activities | ||||
Purchase/redemption of own shares |
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Equity dividends paid |
( |
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Repayment of bank borrowings |
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Amount withdrawn by directors | (69,509) | (36) | ||
Net cash used in financing activities |
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( |
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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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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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Interest income |
( |
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Depreciation of tangible assets |
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Loss on disposal of tangible assets | 592 | 625 | |
Movements in working capital: | |||
Increase in stocks |
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Decrease/(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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As at 1 December 2022 | Cash flows | As at 30 November 2023 | |
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£ | £ | £ | |
Cash at bank and in hand |
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(115,087) |
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Debts falling due within one year |
( |
- |
( |
Debts falling due after more than one year | (100,000) | 40,000 | (60,000) |
49,652 | (75,087) | (25,435) | |
Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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2023 | 2022 | ||
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£ | £ | ||
Managment charges | 29,590 | 25,900 | |
Rendering of services | 16,968,125 | 15,388,463 | |
16,997,715 | 15,414,363 | ||
2023 | 2022 | ||
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£ | £ | ||
United Kingdom |
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16,997,715 | 15,414,363 | ||
2023 | 2022 | ||
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£ | £ | ||
Bad debts | - | 28,133 | |
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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Other pension costs |
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2023 | 2022 | ||
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Office and administration |
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2023 | 2022 | ||
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£ | £ | ||
Emoluments |
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2023 | 2022 | ||
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£ | £ | ||
Bank interest receivable |
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471 | - | ||
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Factoring charges | 90,591 | 45,441 | |
Other finance charges |
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102,311 | 51,330 | ||
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 | 23.0% | 19.0% |
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Prior period adjustment |
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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 | 548,516 | 479,827 | |||
Tax on profit at 23% (UK standard rate) |
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Goodwill/depreciation not allowed for tax |
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Expenses not deductible for tax purposes |
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Capital allowances |
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Short term timing differences |
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Prior period adjustment |
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Difference in tax rates |
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Total tax charge for the period | 127,406 | 95,824 | |||
Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
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£ | £ | £ | £ | |
Cost | ||||
As at 1 December 2022 |
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Additions |
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Disposals |
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( |
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( |
As at 30 November 2023 |
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Depreciation | ||||
As at 1 December 2022 |
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Provided during the period |
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Disposals |
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( |
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( |
As at 30 November 2023 |
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Net Book Value | ||||
As at 30 November 2023 |
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As at 1 December 2022 |
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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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Other debtors | 94,816 | 25,134 | |
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2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Bank loans and overdrafts |
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Other creditors | 1,294,297 | 1,311,612 | |
Corporation tax |
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Taxation and social security | 805,654 | 680,928 | |
Accruals and deferred income |
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2023 | 2022 | ||
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£ | £ | ||
Bank 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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2023 | 2022 | ||
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£ | £ | ||
Other timing differences | 1,081 | 4,121 | |
Deferred Tax | Total | |
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£ | £ | |
As at 1 December 2022 |
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4,121 |
Additions |
( |
(1,613) |
Reversals |
( |
(1,427) |
Balance at 30 November 2023 |
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1,081 |
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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As at 1 December 2022 | Amounts advanced | Amounts repaid | Amounts written off | As at 30 November 2023 | |
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£ | £ | £ | £ | £ | |
Mr Stuart McBride |
( |
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- |
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Mr Alexander Platt |
( |
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- |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Final dividend paid |
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172,000 | 310,500 | ||