Director
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26 September 2024
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Director
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for and on behalf of
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61 Rodney Street
Liverpool
L1 9ER
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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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Profit on disposal of fixed assets |
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Other interest receivable and similar income | 9 |
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Interest payable and similar charges | 10 |
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( |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 11 |
( |
( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2023 | 2022 | |||
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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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2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 12 |
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CURRENT ASSETS | |||||
Debtors | 13 |
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Cash at bank and in hand |
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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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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 15 |
( |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 17 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 9,453,058 | 7,694,449 | |||
Director
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Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 January 2022 |
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7,177,086 |
Profit for the year and total comprehensive income | - |
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517,363 |
As at 31 December 2022 and 1 January 2023 |
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7,694,449 |
Profit for the year and total comprehensive income | - |
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1,758,609 |
As at 31 December 2023 |
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9,453,058 |
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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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 | ||||
Amount withdrawn by directors | (32,883) | - | ||
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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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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Interest income |
( |
( |
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Depreciation of tangible assets |
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Profit on disposal of tangible assets | (8,025) | (23,143) | |
Movements in working capital: | |||
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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£ | £ | ||
Cash at bank and in hand |
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As at 1 January 2023 | Cash flows | As at 31 December 2023 | |
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£ | £ | £ | |
Cash at bank and in hand |
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1,618,011 |
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Freehold |
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Plant & Machinery |
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Motor Vehicles |
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2023 | 2022 | ||
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£ | £ | ||
United Kingdom |
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12,391,273 | 11,694,189 | ||
2023 | 2022 | ||
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£ | £ | ||
Bad debts | - | 10,560 | |
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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Drivers |
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Plant operators |
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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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£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2023 | 2022 | ||
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£ | £ | ||
Bank interest receivable |
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2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts | - |
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Factoring charges | - | 25,999 | |
Other finance charges |
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6,370 | 32,730 | ||
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 | 23.5% | 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 | 2,303,934 | 593,178 | |||
Tax on profit at 23.5% (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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( |
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Capital allowances |
( |
( |
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Deferred tax from unrecognised tax loss or credit |
( |
( |
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Total tax charge for the period | 545,325 | 75,815 | |||
Land & Property | ||||
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Freehold | Plant & Machinery | Motor Vehicles | 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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( |
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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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2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Net wages | 126 | - | |
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2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Corporation tax |
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Other taxes and social security |
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VAT |
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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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£ | £ | ||
Other timing differences | 517,333 | 542,705 | |
Deferred Tax | Total | |
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£ | £ | |
As at 1 January 2023 |
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542,705 |
Deferred taxation |
( |
( |
Balance at 31 December 2023 |
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517,333 |