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Financial Statements |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 to 4 |
Independent auditor's report to the members |
5 to 8 |
Statement of income and retained earnings |
9 |
Statement of financial position |
10 to 11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 to 22 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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3B Swallowfield Courtyard |
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Wolverhampton Road |
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Oldbury |
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West Midlands |
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B69 2JG |
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Strategic Report |
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Director |
Director |
Registered office: |
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Directors' Report |
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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 |
3B Swallowfield Courtyard |
Wolverhampton Road |
Oldbury |
West Midlands |
B69 2JG |
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Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
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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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Operating profit |
5 |
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Interest payable and similar expenses |
8 |
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Profit before taxation |
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Tax on profit |
9 |
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Profit for the financial year and total comprehensive income |
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Tangible assets |
11 |
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Stocks |
12 |
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Debtors |
13 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
14 |
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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 |
15 |
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Taxation including deferred tax |
17 |
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Net assets |
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Statement of Financial Position (continued) |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Called up share capital |
21 |
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Profit and loss account |
22 |
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Shareholders funds |
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Director |
Director |
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Statement of Cash Flows |
2023 |
2022 |
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£ |
£ |
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Profit for the financial year |
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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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(Gains)/loss on disposal of tangible assets |
(21,826) |
2,527 |
Tax on profit |
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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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Cash generated from operations |
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Interest paid |
(
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(
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Tax received |
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Net cash from operating activities |
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Purchase of tangible assets |
(
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(
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Proceeds from sale 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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Repayments of borrowings |
(
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(
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Payments of finance lease liabilities |
(
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(
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Net cash used in financing activities |
(
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(
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
57,588 |
121,681 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Goodwill |
- |
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Leasehold property |
- |
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Plant & Machinery |
- |
10% to 15% straight line |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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2023 |
2022 |
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£ |
£ |
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Sale of goods |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
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(Gains)/loss on disposal of tangible assets |
(
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Impairment of trade debtors |
33,297 |
24,000 |
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2023 |
2022 |
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No. |
No. |
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Production staff |
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Administrative 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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Pension costs |
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2023 |
2022 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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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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Aggregate remuneration |
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Company contributions to defined contribution pension plans |
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-------- |
-------- |
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-------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Interest on obligations under finance leases and hire purchase contracts |
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Other interest payable and similar charges |
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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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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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Tax on profit |
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------- |
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2023 |
2022 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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Profit on ordinary activities by rate of tax |
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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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Utilisation of tax losses |
(
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– |
Research and development |
(128,322) |
– |
Effect of change in rate of deferred tax |
46,545 |
– |
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Tax on profit |
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Goodwill |
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£ |
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Cost |
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At 1 January 2023 and 31 December 2023 |
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Amortisation |
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At 1 January 2023 and 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
– |
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At 31 December 2022 |
– |
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Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
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Additions |
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Disposals |
– |
– |
– |
(
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(
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--------- |
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-------- |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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Disposals |
– |
– |
– |
(
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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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Carrying amount |
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At 31 December 2023 |
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--------- |
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-------- |
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At 31 December 2022 |
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Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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At 31 December 2023 |
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At 31 December 2022 |
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-------- |
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2023 |
2022 |
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£ |
£ |
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Raw materials and consumables |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Corporation tax repayable |
– |
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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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Amounts owed by group undertakings |
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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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Obligations under finance leases and hire purchase contracts |
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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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Obligations under finance leases and hire purchase contracts |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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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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--------- |
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Deferred tax (note 18) |
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£ |
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At 1 January 2023 |
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Additions |
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--------- |
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At 31 December 2023 |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 17) |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Accelerated capital allowances |
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Unused tax losses |
– |
(
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Pension plan obligations |
– |
(
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--------- |
--------- |
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227,303 |
139,099 |
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--------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
------- |
------- |
------- |
------- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
77,024 |
|
Debt due within one year |
(314,098) |
(238,355) |
(552,453) |
Debt due after one year |
(249,061) |
110,103 |
(138,958) |
--------- |
--------- |
--------- |
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(
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(
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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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--------- |
--------- |
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--------- |
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