Director
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19/09/2024
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Appointed |
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Director
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for and on behalf of
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Windsor House
26 Mostyn Avenue
Llandudno
Conwy
LL30 1YY
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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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Administrative expenses |
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OPERATING PROFIT | 4 |
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Loss on disposal of fixed assets |
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Interest payable and similar charges | 9 |
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( |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 10 |
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( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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RETAINED EARNINGS | ||||
As at 1 January 2023 |
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Dividends paid | (43,500) | (20,000) | ||
As at 31 December 2023 |
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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 11 |
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CURRENT ASSETS | |||||
Stocks | 12 |
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Debtors | 13 |
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Creditors: Amounts Falling Due Within One Year | 14 |
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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 | 15 |
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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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Share premium account |
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Revaluation reserve |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 1,331,083 | 1,313,309 | |||
Director
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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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Net cash generated from operating activities |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
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( |
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Proceeds from disposal of tangible assets |
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Net cash (used in)/generated from investing activities |
( |
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Cash flows from financing activities | ||||
Equity dividends paid |
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Repayment of bank borrowings |
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Repayment of finance leases |
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Amount introduced by directors | 10,755 | - | ||
Amount withdrawn by directors | - | (8,353) | ||
Net cash used in financing activities |
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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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( |
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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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Depreciation of tangible assets |
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Loss on disposal of tangible assets | 765 | - | |
Movements in working capital: | |||
Decrease/(increase) in stocks |
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Decrease/(increase) in trade and other debtors |
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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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£ | £ | ||
Overdraft facilities repayable on demand |
( |
( |
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As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
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£ | £ | £ | |
Overdraft facilities repayable on demand | (27,702) | (197,105) | (224,807) |
Finance leases | (16,161) | (67,295) | (83,456) |
Debts falling due within one year |
( |
34,861 |
( |
Debts falling due after more than one year | (655,055) | 98,705 | (556,350) |
(836,313) | (130,834) | (967,147) | |
Freehold |
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Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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2023 | 2022 | ||
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£ | £ | ||
United Kingdom |
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15,303,088 | 13,752,689 | ||
2023 | 2022 | ||
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£ | £ | ||
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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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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Sales, marketing and distribution |
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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 loans and overdrafts |
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Other finance charges |
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255,680 | 130,075 | ||
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 | 19.0% | 19.0% |
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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 | 66,136 | 147,577 | |||
Tax on profit at 19% (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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Total tax charge for the period | 4,862 | 29,690 | |||
Land & Property | |||||
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Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 January 2023 |
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Additions |
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Disposals |
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( |
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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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Land & Property | |
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Freehold | |
£ | |
Cost | 1,662,165 |
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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Prepayments and accrued income |
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VAT | - |
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2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Bank loans and overdrafts |
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Corporation tax |
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Other taxes and social security |
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VAT |
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Other creditors |
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Accruals and deferred income |
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Directors' loan accounts |
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2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Bank loans |
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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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£ | £ | ||
Amounts falling due after more than five years: | |||
Bank loans |
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2023 | 2022 | ||
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£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
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Later than one year and not later than five years |
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2023 | 2022 | ||
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£ | £ | ||
Other timing differences | 45,347 | 49,501 | |
Deferred Tax | Total | |
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£ | £ | |
As at 1 January 2023 |
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49,501 |
Additions |
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(4,154) |
Balance at 31 December 2023 |
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45,347 |
2023 | 2022 | ||
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£ | £ | ||
Later than one year and not later than five years |
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2023 | 2022 | ||
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£ | £ | ||
On equity shares: | |||
Interim dividend paid |
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