Director
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8 April 2024
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Resigned |
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Resigned |
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Appointed |
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Director
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for and on behalf of
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7 Faraday Court
First Avenue
Burton Upon Trent
Staffordshire
DE14 2WX
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2023 | 2022 | |||
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Notes | £ | £ | ||
TURNOVER | 4 |
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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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Other operating income |
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OPERATING LOSS | 6 |
( |
( |
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Profit on disposal of fixed assets |
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Other interest receivable and similar income | 11 |
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Interest payable and similar charges | 12 |
( |
( |
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LOSS BEFORE TAXATION |
( |
( |
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Tax on Loss | 13 |
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LOSS AFTER TAXATION BEING LOSS 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 | 14 |
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Investments | 15 |
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CURRENT ASSETS | |||||
Stocks | 16 |
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Debtors | 17 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 18 |
( |
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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 | 19 |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 22 |
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Capital redemption reserve |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 2,159,191 | 2,915,508 | |||
Director
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Share Capital | Capital Redemption | Profit and Loss Account | Total | |
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£ | £ | £ | £ | |
As at 1 January 2022 |
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3,583,253 |
Loss for the year and total comprehensive income | - | - |
( |
(667,745) |
Dividends paid | - | - | - | - |
As at 31 December 2022 and 1 January 2023 |
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2,915,508 |
Loss for the year and total comprehensive income | - | - |
( |
(756,317) |
Dividends paid | - | - | - | - |
As at 31 December 2023 |
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2,159,191 |
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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( |
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Net cash (used in)/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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Grants received |
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Interest received |
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Net cash used in investing activities |
( |
( |
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(Decrease)/increase 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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£ | £ | ||
Loss for the financial year |
( |
( |
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Adjustments for: | |||
Tax on loss |
( |
( |
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Interest expense |
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Interest income | - |
( |
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Depreciation of tangible assets |
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Profit on disposal of tangible assets | (32,470) | (23,000) | |
Grant income | (4,684) | (4,684) | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
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( |
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Decrease/(increase) in trade and other debtors |
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( |
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(Decrease)/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 | (1,949,616) | (1,137,798) | |
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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(16,483) |
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Overdraft facilities repayable on demand | (1,357,717) | (795,335) | (2,153,052) |
Cash and cash equivalents |
( |
(811,818) |
( |
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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£ | £ | ||
Sale of Goods | 26,851,327 | 33,915,687 | |
2023 | 2022 | ||
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£ | £ | ||
Grant income |
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4,684 | 4,684 | ||
2023 | 2022 | ||
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£ | £ | ||
Bad debts | 3,962 | 6,107 | |
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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Non-Audit Services | |||
Other non-audit services |
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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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Directors |
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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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Money purchase pension schemes |
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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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£ | £ | ||
Bank interest receivable | - |
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- | 3,988 | ||
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Foreign exchange (gains)/losses |
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( |
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457,649 | 242,623 | ||
The tax credit on the loss 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 | 25.0% | 19.0% |
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Deferred Tax | |||||
Deferred taxation |
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( |
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Total tax charge for the period |
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The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:
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2023 | 2022 | ||||
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£ | £ | ||||
Profit before tax | (1,067,985) | (856,659) | |||
Tax on profit at 25% (UK standard rate) |
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Tax losses utilised |
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( |
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Short term timing differences |
( |
( |
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Total tax charge for the period | (311,668) | (188,914) | |||
Land & Property | ||||
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Freehold | Leasehold | Plant & Machinery | Motor Vehicles | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 January 2023 |
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Additions |
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Disposals |
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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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Disposals |
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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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Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | |
Cost | |||
As at 1 January 2023 |
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Additions |
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Disposals |
( |
( |
( |
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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Disposals |
( |
( |
( |
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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Unlisted | |
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£ | |
Cost | |
As at 1 January 2023 |
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As at 31 December 2023 |
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Provision | |
As at 1 January 2023 |
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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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Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
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Europa House, Second Avenue, Centrum 100, Burton Upon Trent, DE14 2WF |
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- |
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Europa House, Second Avenue, Centrum 100, Burton Upon Trent, DE14 2WF |
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- |
Capital and Reserves | Profit/(loss) | |
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£ | £ | |
Avonride Limited |
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Knott Limited |
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2023 | 2022 | ||
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£ | £ | ||
Materials |
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Finished goods |
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Work in progress |
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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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Corporation tax recoverable assets |
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Deferred tax current asset | - | 87,962 | |
Amounts owed by group undertakings |
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Due after more than one year | |||
Deferred tax current asset |
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2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Other creditors | 681 | 5,594 | |
Taxation and social security | 705,538 | 343,979 | |
Accruals and deferred income |
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2023 | 2022 | ||
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£ | £ | ||
Accruals and deferred income |
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2023 | 2022 | ||
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£ | £ | ||
Balance at 1 January 2023 | 182,298 | 186,982 | |
Increase / (Decrease) in the year | (4,684) | (4,684) | |
Balance at 31 December 2023 | 177,614 | 182,298 | |
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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