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For the year ended |
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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 auditor |
Enterprise House |
38 Tyndall Court |
Commerce Road |
Lynch Wood |
Peterborough |
Cambridgeshire |
PE2 6LR |
|
Consolidated Statement of Comprehensive Income |
2023 |
2022 |
||
Note |
£ |
£ |
|
Turnover |
4 |
|
|
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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Exceptional item |
(
|
– |
|
------------ |
------------ |
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Operating profit |
6 |
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Other interest receivable and similar income |
11 |
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Interest payable and similar expenses |
12 |
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|
------------ |
------------ |
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Profit/(loss) before taxation |
|
(
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Tax on profit/(loss) |
13 |
|
– |
--------- |
------- |
||
Profit/(loss) for the financial year and total comprehensive income |
|
(
|
|
--------- |
------- |
||
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Company Statement of Income and Retained Earnings |
2023 |
2022 |
|
Note |
£ |
£ |
Profit/(loss) for the financial year and total comprehensive income |
(
|
(
|
Retained losses at the start of the year |
(
|
(
|
------------ |
------------ |
|
Retained losses at the end of the year |
(
|
(
|
------------ |
------------ |
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Consolidated Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Tangible assets |
15 |
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Debtors |
17 |
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Cash at bank and in hand |
|
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------------- |
------------- |
||
|
|
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Creditors: amounts falling due within one year |
18 |
|
|
------------- |
------------- |
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Net current liabilities |
|
|
|
------------- |
------------- |
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Total assets less current liabilities |
(
|
(
|
|
Provisions |
19 |
– |
|
------------ |
------------ |
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Net liabilities |
(
|
(
|
|
------------ |
------------ |
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Called up share capital |
22 |
|
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Profit and loss account |
23 |
(
|
(
|
------------ |
------------ |
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Shareholders deficit |
(
|
(
|
|
------------ |
------------ |
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Director |
|
Company Statement of Financial Position |
2023 |
2022 |
|
Note |
£ |
£ |
Debtors |
17 |
|
|
Cash at bank and in hand |
|
|
|
------------ |
------------ |
||
|
|
||
Creditors: amounts falling due within one year |
18 |
|
|
------------- |
------------- |
||
Net current liabilities |
|
|
|
------------ |
------------ |
||
Total assets less current liabilities |
(
|
(
|
|
------------ |
------------ |
||
Called up share capital |
22 |
|
|
Profit and loss account |
23 |
(
|
(
|
------------ |
------------ |
||
Shareholders deficit |
(
|
(
|
|
------------ |
------------ |
||
|
Director |
|
Consolidated Statement of Cash Flows |
2023 |
2022 |
|
£ |
£ |
|
Profit/(loss) for the financial year |
|
(
|
Adjustments for: |
||
Depreciation of tangible assets |
|
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Government grant income |
– |
(
|
Other interest receivable and similar income |
(
|
(
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Interest payable and similar expenses |
|
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Tax on loss |
|
– |
Accrued expenses |
|
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Changes in: |
||
Trade and other debtors |
(
|
(
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Trade and other creditors |
(
|
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Provisions and employee benefits |
(
|
– |
------------ |
------------ |
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Cash generated from operations |
(
|
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Interest paid |
(
|
(
|
Interest received |
|
|
Tax paid |
(
|
– |
------------ |
------------ |
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Net cash (used in)/from operating activities |
(
|
|
------------ |
------------ |
|
Purchase of tangible assets |
(
|
(
|
Proceeds from sale of tangible assets |
– |
|
------------ |
------------ |
|
Net cash used in investing activities |
(
|
(
|
------------ |
------------ |
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Proceeds from borrowings |
|
(
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Proceeds from loans from group undertakings |
(
|
(
|
Government grant income |
– |
|
------------ |
------------ |
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Net cash from/(used in) financing activities |
|
(
|
------------ |
------------ |
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Net decrease in cash and cash equivalents |
(
|
(
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Cash and cash equivalents at beginning of year |
2,473,784 |
3,827,195 |
------------ |
------------ |
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Cash and cash equivalents at end of year |
|
|
------------ |
------------ |
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Notes to the Financial Statements |
Goodwill | - |
|
|
Freehold property | - |
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Fixtures and fittings | - |
|
|
2023 |
2022 |
|
£ |
£ |
|
Rendering of services |
|
|
------------- |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Government grant income |
– |
|
Other operating income |
|
|
-------- |
--------- |
|
|
|
|
-------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
Impairment of trade debtors |
(48,817) |
18,275 |
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
No. |
No. |
|
Production staff |
|
|
---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
------------ |
------------ |
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|
|
|
------------ |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Remuneration |
|
|
-------- |
-------- |
|
2023 |
2022 |
|
No. |
No. |
|
Defined contribution plans |
|
|
---- |
---- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Labour cost |
|
– |
|
– |
--------- |
---- |
--------- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on cash and cash equivalents |
|
– |
Interest from group undertakings |
|
|
-------- |
------- |
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|
|
|
-------- |
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
Interest due to group undertakings |
|
|
Other interest payable and similar charges |
|
|
------------ |
--------- |
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|
|
|
------------ |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Adjustments in respect of prior periods |
|
– |
Tax on loss |
|
– |
-------- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Profit/(loss) on ordinary activities before taxation |
|
(
|
--------- |
------- |
|
Profit/(loss) on ordinary activities by rate of tax |
|
|
Adjustment to tax charge in respect of prior periods |
|
– |
Effect of revenue exempt from tax |
(
|
– |
Utilisation of tax losses |
(
|
(
|
--------- |
-------- |
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Tax on loss |
|
– |
--------- |
-------- |
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Group |
Goodwill |
£ |
|
Cost |
|
At 1 January 2023 and 31 December 2023 |
|
------------ |
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Amortisation |
|
At 1 January 2023 and 31 December 2023 |
|
------------ |
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Carrying amount |
|
At 1 January 2023 and 31 December 2023 |
– |
------------ |
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At 31 December 2022 |
– |
------------ |
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Group |
Freehold property |
Fixtures and fittings |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 January 2023 |
|
|
|
Additions |
– |
|
|
------------- |
------------ |
------------- |
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At 31 December 2023 |
|
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|
------------- |
------------ |
------------- |
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Depreciation |
|||
At 1 January 2023 |
|
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|
Charge for the year |
|
|
|
------------- |
------------ |
------------- |
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At 31 December 2023 |
|
|
|
------------- |
------------ |
------------- |
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Carrying amount |
|||
At 31 December 2023 |
|
|
|
------------- |
------------ |
------------- |
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At 31 December 2022 |
|
|
|
------------- |
------------ |
------------- |
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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 January 2023 and 31 December 2023 |
|
------------ |
|
Impairment |
|
At 1 January 2023 and 31 December 2023 |
|
------------ |
|
Carrying amount |
|
At 1 January 2023 and 31 December 2023 |
– |
------------ |
|
At 31 December 2022 |
– |
------------ |
|
Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
|
|
|
|
Prepayments and accrued income |
|
|
– |
– |
Other debtors |
|
|
|
|
------------- |
------------- |
------------ |
------------ |
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|
|
|
|
|
------------- |
------------- |
------------ |
------------ |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
|
|
|
|
Accruals and deferred income |
|
|
– |
– |
Social security and other taxes |
|
|
– |
– |
Other creditors |
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
|
|
|
|
|
------------- |
------------- |
------------- |
------------- |
|
Group |
Provision |
£ |
|
At 1 January 2023 |
|
Charge against provision |
(
|
------- |
|
At 31 December 2023 |
– |
------- |
|
Group |
Company |
|||
2023 |
2022 |
2023 |
2022 |
|
£ |
£ |
£ |
£ |
|
Government grants recognised directly in income |
– |
|
– |
– |
---- |
--------- |
---- |
---- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1 |
|
1 |
---- |
---- |
---- |
---- |
|
At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,842,535) |
|
Debt due within one year |
(37,007,355) |
(1,754,907) |
(38,762,262) |
------------- |
------------ |
------------- |
|
(
|
(
|
(
|
|
------------- |
------------ |
------------- |
|
2023 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
– |
– |
– |
|
---- |
---- |
---- |
||
2022 |
||||
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
||
£ |
£ |
£ |
||
|
– |
|
|
|
---- |
---- |
---- |
||
|
Notes to the Financial Statements (continued) |