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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Independent auditor's report to the members |
5 |
Statement of income and retained earnings |
8 |
Statement of financial position |
9 |
Statement of cash flows |
10 |
Notes to the financial statements |
11 |
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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 |
Unit 2, 32-34 Station Close |
Herts |
EN6 1TL |
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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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------------- |
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Gross profit |
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Administrative expenses |
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Operating profit |
5 |
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
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Profit before taxation |
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Tax on profit |
11 |
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Profit for the financial year and total comprehensive income |
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------------ |
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Dividends paid and payable |
12 |
(
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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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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Tangible assets |
13 |
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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 |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
17 |
– |
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Net assets |
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Called up share capital |
19 |
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Profit and loss account |
20 |
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Shareholders funds |
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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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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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– |
Tax on profit |
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437,158
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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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------------ |
------------ |
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Cash generated from operations |
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Interest paid |
(
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(
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Interest received |
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Tax paid |
(
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(
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--------- |
------------ |
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Net cash (used in)/from operating activities |
(
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--------- |
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Purchase of tangible assets |
(
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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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Proceeds from borrowings |
(
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(
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Proceeds from loans from group undertakings |
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– |
Dividends paid |
(
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(
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--------- |
------------ |
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Net cash used in financing activities |
(
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(
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--------- |
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
1,607,120 |
2,230,728 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Property improvement |
- |
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Plant and equipment |
- |
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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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------------- |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
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7,662
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Gains on disposal of tangible assets |
(
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– |
Impairment of trade debtors |
11,724 |
(74,037) |
-------- |
-------- |
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2023 |
2022 |
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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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2023 |
2022 |
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No. |
No. |
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Distribution staff |
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Management staff |
2 |
2 |
---- |
---- |
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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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Social security costs |
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Other pension costs |
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------------ |
------------ |
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------------ |
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2023 |
2022 |
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£ |
£ |
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Remuneration |
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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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Interest on cash and cash equivalents |
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------- |
------- |
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2023 |
2022 |
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£ |
£ |
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Other interest payable and similar charges |
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-------- |
-------- |
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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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– |
--------- |
--------- |
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Total current tax |
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--------- |
--------- |
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--------- |
--------- |
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Tax on profit |
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437,158
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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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------------ |
------------ |
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Profit on ordinary activities by rate of tax |
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Adjustment to tax charge in respect of prior periods |
(
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– |
Effect of capital allowances and depreciation |
(
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------------ |
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Tax on profit |
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435,591
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2023 |
2022 |
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£ |
£ |
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Equity dividends on ordinary shares |
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Land and buildings |
Plant and machinery |
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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-------- |
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--------- |
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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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At 31 December 2022 |
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-------- |
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2023 |
2022 |
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£ |
£ |
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Finished goods and goods for resale |
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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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Prepayments and accrued income |
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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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Trade creditors |
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Amounts owed to group undertakings |
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– |
Corporation tax |
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Social security and other taxes |
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Director loan accounts |
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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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---- |
--------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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20,000 |
20,000 |
20,000 |
20,000 |
-------- |
-------- |
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-------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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20,000 |
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20,000 |
-------- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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(919,297) |
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Debt due within one year |
– |
(550,000) |
(550,000) |
Debt due after one year |
(466,667) |
466,667 |
– |
------------ |
------------ |
--------- |
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(
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------------ |
------------ |
--------- |
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2023 |
2022 |
|
£ |
£ |
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Later than 5 years |
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-------- |
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Notes to the Financial Statements (continued) |