Director
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24 May 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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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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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2023 | 2022 | |||
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£ | £ | |||
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 | |||||
Intangible Assets | 12 |
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Tangible Assets | 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 | 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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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 5,955,466 | 4,735,086 | |||
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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3,736,345 |
Profit for the year and total comprehensive income | - | - |
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998,741 |
As at 31 December 2022 and 1 January 2023 |
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4,735,086 |
Profit for the year and total comprehensive income | - | - |
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1,220,380 |
As at 31 December 2023 |
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5,955,466 |
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 (used in)/generated from operating activities |
( |
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Cash flows from investing activities | ||||
Purchase of intangible assets |
( |
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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 | ||||
Proceeds from new other loans | 910,905 | - | ||
Repayment of other loans | (194,515) | - | ||
Repayment of finance leases |
( |
( |
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Net cash generated from/(used in) financing activities |
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( |
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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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£ | £ | ||
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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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Movements in working capital: | |||
Increase in stocks |
( |
( |
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Increase in trade and other debtors |
( |
( |
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Decrease in trade and other creditors |
( |
( |
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Net cash generated from operations |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Cash at bank and in hand |
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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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196,930 |
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Asset class
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Amortisation method and rate
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Computer software
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10 Years
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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 | 12,664,046 | 13,667,867 | |
2023 | 2022 | ||
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£ | £ | ||
Bad debts | 5,601 | 6,000 | |
Depreciation of tangible fixed assets |
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Amortisation of intangible 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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19,612 | 265 | ||
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Foreign exchange charges |
( |
( |
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Other finance charges |
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14,856 | 75,942 | ||
The tax charge on the profit for the year was as follows:
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2023 | 2022 | ||
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£ | £ | ||
Current tax | |||
UK Corporation Tax |
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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 (UK standard rate for 2022 was 19%):
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2023 | 2022 | ||
£ | £ | ||
Profit before tax | 1,624,522 | 1,235,729 | |
Tax on profit at 23.5% (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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Tax losses utilised |
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Capital allowances |
( |
( |
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Short term timing differences |
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Difference in tax rates |
( |
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Total tax charge for the period | 404,142 | 236,988 | |
Goodwill | Other | Total | |
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£ | £ | £ | |
Cost | |||
As at 1 January 2023 |
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Additions |
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As at 31 December 2023 |
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Amortisation | |||
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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Land & Property | ||||
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Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
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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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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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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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 | 2022 | ||
---|---|---|---|
£ | £ | ||
Raw materials and consumables |
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Finished goods and goods for resale |
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Work in progress |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors |
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Prepayments and deferred income (Debtors < 1 year) |
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Amounts owed by group undertakings |
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2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Amounts owed to group undertakings |
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Other creditors | 31,439 | 315,404 | |
Corporation tax |
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Taxation and social security | 413,776 | 410,930 | |
Accruals and deferred income |
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2023 | 2022 | ||
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£ | £ | ||
Amounts owed to group undertakings |
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Other creditors | 53,305 | 102,000 | |
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2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 84,305 | 69,675 | |
Deferred Tax | Total | |
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£ | £ | |
As at 1 January 2023 |
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69,675 |
Additions |
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14,630 |
Balance at 31 December 2023 |
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84,305 |
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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2023
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2022
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£
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£
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Fair value of scheme assets
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591,000
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510,000
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Present value of defined benefit obligation
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(398,000)
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(391,000)
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Defined benefit pension scheme surplus/(deficit)
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193,000
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119,000
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2023
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£
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Present value at start of year
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391,000
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Interest cost
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18,000
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Actuarial gains and losses
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18,000
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Benefits paid
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(29,000)
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Present value at the end of year
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398,000
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2023
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£
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Fair value at start of year
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510,000
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Return on plan assets, excluding amounts included in interest income/(expense)
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26,000
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Actuarial gains and losses
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(25,000)
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Employer contributions
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121,000
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Benefits paid
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(29,000)
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Expenses paid from scheme
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(12,000)
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Fair value at end of year
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591,000
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2023
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2022
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£
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£
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Cash and cash equivalents
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591,000
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510,000
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2023
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2022
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£
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£
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Return on scheme assets
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26,000
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8,000
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2023
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2022
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%
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%
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Mortality rate
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1.25
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1.25
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Discount rate
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4.45
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4.75
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Future pension increases
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3.15
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3.60
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Inflation
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3.30
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3.25
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2023
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2022
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Years
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Years
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Current UK pensioners at retirement age - Male
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21.40
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21.10
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Current UK pensioners at retirement age - Female
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23.90
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23.80
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