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FINANCIAL STATEMENTS |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Consolidated statement of income and retained earnings |
9 |
Company statement of income and retained earnings |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
12 |
Consolidated statement of cash flows |
13 |
Notes to the financial statements |
14 |
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STRATEGIC REPORT |
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Director |
Registered office: |
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DIRECTORS' REPORT |
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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 Auditors |
168 Church Road |
Hove |
East Sussex |
BN3 2DL |
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CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS |
2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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--------------- |
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Gross profit |
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Administrative expenses |
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Other operating income |
5 |
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Operating profit/(loss) |
6 |
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(
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Income from shares in group undertakings |
10 |
– |
(
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Interest payable and similar expenses |
11 |
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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
12 |
(
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--------- |
---------- |
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Profit/(loss) for the financial year and total comprehensive income |
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(
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--------- |
---------- |
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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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COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS |
2024 |
2023 |
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Note |
£ |
£ |
Profit/(loss) for the financial year and total comprehensive income |
– |
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Retained earnings at the start of the year |
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– |
------- |
------- |
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Retained earnings at the end of the year |
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------- |
------- |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
2024 |
2023 |
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Note |
£ |
£ |
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Tangible assets |
13 |
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Stocks |
15 |
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Debtors |
16 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
17 |
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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 |
18 |
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Taxation including deferred tax |
19 |
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Net assets |
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Called up share capital |
22 |
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Other reserves, including the fair value reserve |
23 |
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Profit and loss account |
23 |
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Shareholders funds |
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Director |
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COMPANY STATEMENT OF FINANCIAL POSITION |
2024 |
2023 |
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Note |
£ |
£ |
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Investments |
14 |
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Debtors |
16 |
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Creditors: amounts falling due within one year |
17 |
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--------- |
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Net current assets |
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------- |
------- |
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Total assets less current liabilities |
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------- |
------- |
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Called up share capital |
22 |
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Profit and loss account |
23 |
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------- |
------- |
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Shareholders funds |
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------- |
------- |
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Director |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
2024 |
2023 |
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£ |
£ |
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Profit/(loss) for the financial year |
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(
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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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Tax on profit |
(
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Accrued expenses/(income) |
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(
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Changes in: |
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Stocks |
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(
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Trade and other debtors |
(
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Trade and other creditors |
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---------- |
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Cash generated from operations |
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Interest paid |
(
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(
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Tax paid |
– |
(
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---------- |
---------- |
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Net cash from operating activities |
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---------- |
---------- |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of subsidiaries |
– |
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---------- |
---------- |
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Net cash used in investing activities |
(
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(
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---------- |
---------- |
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Proceeds from borrowings |
(
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Payments of finance lease liabilities |
– |
(
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---------- |
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Net cash (used in)/from financing activities |
(
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---------- |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
886,804 |
579,966 |
------------- |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
Short leasehold property |
- |
over the term of the lease
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Fixtures and fittings |
- |
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Equipment |
- |
15% - 20 % reducing balance
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2024 |
2023 |
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£ |
£ |
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Sale of goods |
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--------------- |
--------------- |
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2024 |
2023 |
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£ |
£ |
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Rental income |
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Other operating income - Business rates relief, retail discount |
– |
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---------- |
---------- |
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---------- |
---------- |
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2024 |
2023 |
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£ |
£ |
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Amortisation of intangible assets |
– |
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Depreciation of tangible assets |
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336,756
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Operating leases - expensed in year |
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---------- |
---------- |
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2024 |
2023 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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--------- |
--------- |
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Other non-audit services |
– |
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--------- |
--------- |
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2024 |
2023 |
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No. |
No. |
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Production staff |
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Management staff |
10 |
10 |
---- |
---- |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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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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------------- |
------------- |
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------------- |
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2024 |
2023 |
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£ |
£ |
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Remuneration |
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---------- |
---------- |
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2024 |
2023 |
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£ |
£ |
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(Gain)/loss on disposal of shares in group |
– |
(43,818) |
---- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Other interest payable and similar charges |
– |
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---------- |
--------- |
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---------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Adjustments in respect of prior periods |
– |
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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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2024 |
2023 |
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£ |
£ |
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Profit/(loss) on ordinary activities before taxation |
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(
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--------- |
---------- |
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Profit/(loss) on ordinary activities by rate of tax |
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(
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Adjustment to tax charge in respect of prior periods |
– |
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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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– |
Unused tax losses |
– |
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Deferred tax |
(
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--------- |
---------- |
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Tax on profit |
(
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--------- |
---------- |
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Group |
Freehold property |
Short leasehold property |
Fixtures and fittings |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2023 |
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3,767,377 |
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Additions |
– |
– |
– |
144,766 |
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At 31 March 2024 |
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3,912,143 |
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Depreciation |
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At 1 April 2023 |
– |
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1,221,889 |
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Charge for the year |
– |
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– |
397,978 |
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------------- |
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At 31 March 2024 |
– |
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1,619,867 |
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Carrying amount |
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At 31 March 2024 |
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– |
2,292,276 |
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At 31 March 2023 |
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– |
2,545,488 |
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Group |
Freehold property |
£ |
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At 31 March 2024 |
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Aggregate cost |
1,560,004 |
Aggregate depreciation |
– |
------------- |
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Carrying value |
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------------- |
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At 31 March 2023 |
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Aggregate cost |
1,560,004 |
Aggregate depreciation |
– |
------------- |
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Carrying value |
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------------- |
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Company |
Shares in group undertakings |
£ |
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Cost |
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At 1 April 2023 and 31 March 2024 |
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------- |
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Impairment |
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At 1 April 2023 and 31 March 2024 |
– |
------- |
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Carrying amount |
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At 1 April 2023 and 31 March 2024 |
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------- |
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At 31 March 2023 |
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------- |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
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Ordinary |
100 |
Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Finished goods and goods for resale |
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– |
– |
--------- |
---------- |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Trade debtors |
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– |
– |
Prepayments and accrued income |
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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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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Bank loans and overdrafts |
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– |
– |
Trade creditors |
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– |
– |
Amounts owed to group undertakings |
– |
– |
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Accruals and deferred income |
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– |
– |
Social security and other taxes |
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– |
– |
Amounts owed to related parties |
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Other creditors |
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– |
– |
------------- |
------------- |
--------- |
---------- |
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---------- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Bank loans and overdrafts |
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– |
– |
------------- |
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---- |
---- |
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Group |
Deferred tax (note 20) |
£ |
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At 1 April 2023 |
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Additions |
(
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---------- |
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At 31 March 2024 |
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---------- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Included in provisions (note 19) |
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– |
– |
---------- |
---------- |
---- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Accelerated capital allowances |
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– |
– |
Revaluation of tangible assets |
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– |
– |
Unused tax losses |
(
|
(
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– |
– |
---------- |
---------- |
---- |
---- |
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366,935 |
373,760 |
– |
– |
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---------- |
---------- |
---- |
---- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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|
100 |
100 |
100 |
100 |
---- |
---- |
---- |
---- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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|
100 |
|
100 |
---- |
---- |
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At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
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£ |
£ |
£ |
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Cash at bank and in hand |
|
370,363 |
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Debt due within one year |
(305,520) |
56,832 |
(248,688) |
Debt due after one year |
(1,309,142) |
156,715 |
(1,152,427) |
------------- |
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(
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(
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NOTES TO THE FINANCIAL STATEMENTS (continued) |
Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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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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Later than 5 years |
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