Director
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20 August 2024
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Director
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for and on behalf of
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2024 | 2023 | |||
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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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Other operating income |
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OPERATING PROFIT | 5 |
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Profit on disposal of fixed assets |
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Other interest receivable and similar income | 10 |
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Interest payable and similar charges | 11 |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 12 |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2024 | 2023 | |||
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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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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
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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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 19 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 21 |
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Income Statement |
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SHAREHOLDERS' FUNDS | 3,899,195 | 3,435,650 | |||
Director
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Share Capital | Income Statement | Total | |
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£ | £ | £ | |
As at 1 February 2022 |
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3,317,753 |
Profit for the year and total comprehensive income | - |
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617,897 |
Dividends paid | - | (500,000) | (500,000) |
As at 31 January 2023 and 1 February 2023 |
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3,435,650 |
Profit for the year and total comprehensive income | - |
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460,345 |
As at 31 January 2024 |
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3,899,195 |
2024 | 2023 | |||
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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 generated from operating activities |
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Cash flows from investing activities | ||||
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 | ||||
Equity dividends paid |
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Repayment of finance leases |
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Amount introduced by directors | - | 19,909 | ||
Amount withdrawn by directors | (1,296) | (14) | ||
Net cash used in financing activities |
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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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2024 | 2023 | ||
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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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Depreciation of tangible assets |
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Profit on disposal of tangible assets | (6,292) | (4,364) | |
Movements in working capital: | |||
Increase in stocks | - |
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Increase in trade and other debtors |
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Increase in trade and other creditors |
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Net cash generated from operations |
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2024 | 2023 | ||
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£ | £ | ||
Cash at bank and in hand |
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Overdraft facilities repayable on demand |
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Cash and cash equivalents as stated in the Statement of Cash Flows | 3,062,070 | 2,859,571 | |
As at 1 February 2023 | Cash flows | As at 31 January 2024 | |
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£ | £ | £ | |
Cash at bank and in hand |
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348,147 |
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Overdraft facilities repayable on demand | (65,948) | (145,648) | (211,596) |
Cash and cash equivalents |
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202,499 |
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Finance leases | (834) | 834 | - |
2,858,737 | 203,333 | 3,062,070 | |
Freehold |
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Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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2024 | 2023 | ||
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£ | £ | ||
United Kingdom |
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14,034,154 | 13,294,605 | ||
2024 | 2023 | ||
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£ | £ | ||
Other operating income |
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1,667 | - | ||
2024 | 2023 | ||
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£ | £ | ||
Bad debts | - | (1,206) | |
Operating lease rentals |
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Exchange differences |
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Depreciation of tangible fixed assets |
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2024 | 2023 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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Other Services | |||
Other non-audit services |
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2024 | 2023 | ||
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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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2024 | 2023 | ||
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Employees |
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Directors |
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2024 | 2023 | ||
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£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2024 | 2023 | ||
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£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2024 | 2023 | ||
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£ | £ | ||
Bank interest receivable |
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Corporation tax repayment interest | 561 | 159 | |
39,496 | 5,050 | ||
2024 | 2023 | ||
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£ | £ | ||
Finance charges payable under finance leases and hire purchase contracts | 12 | 127 | |
The tax charge on the profit for the year was as follows:
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2024 | 2023 | ||
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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:
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2024 | 2023 | ||
£ | £ | ||
Profit before tax | 630,481 | 760,431 | |
Tax on profit at 24% (UK standard rate) |
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Expenses not deductible for tax purposes |
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Capital allowances |
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Prior period adjustment |
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Difference in tax rates |
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Total tax charge for the period | 170,136 | 142,534 | |
Land & Property | ||||
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Freehold | Leasehold | Plant & Machinery | Motor Vehicles | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 February 2023 |
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Additions |
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Disposals |
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As at 31 January 2024 |
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Depreciation | ||||
As at 1 February 2023 |
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Provided during the period |
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Disposals |
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( |
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As at 31 January 2024 |
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Net Book Value | ||||
As at 31 January 2024 |
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As at 1 February 2023 |
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Fixtures & Fittings | Total | |
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£ | £ | |
Cost | ||
As at 1 February 2023 |
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Additions |
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Disposals |
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As at 31 January 2024 |
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Depreciation | ||
As at 1 February 2023 |
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Provided during the period |
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Disposals |
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As at 31 January 2024 |
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Net Book Value | ||
As at 31 January 2024 |
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As at 1 February 2023 |
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2024 | 2023 | ||
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£ | £ | ||
Stock |
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2024 | 2023 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors | 1,280,859 | 789,612 | |
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2024 | 2023 | ||
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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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Other creditors | 3,450 | 8,133 | |
Corporation tax |
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Taxation and social security | 753,767 | 790,105 | |
Accruals and deferred income |
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2024 | 2023 | ||
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£ | £ | ||
Bank loans and overdrafts | 211,596 | 65,948 |
2024 | 2023 | ||
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£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year | - |
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Less: Finance charges allocated to future periods | - |
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- |
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2024 | 2023 | ||
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£ | £ | ||
Accelerated capital allowances |
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Deferred Tax | Total | |
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£ | £ | |
As at 1 February 2023 |
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51,073 |
Deferred taxation |
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Balance at 31 January 2024 |
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126,542 |
As at 1 February 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 January 2024 | |
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£ | £ | £ | £ | £ | |
Mr Sam Gillespie |
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- |
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2024 | 2023 | ||
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£ | £ | ||
On equity shares: | |||
Interim dividend paid | - |
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