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FOR THE YEAR ENDED |
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FINANCIAL STATEMENTS |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 to 4 |
Directors' report |
5 to 6 |
Independent auditor's report to the members |
7 to 10 |
Statement of income and retained earnings |
11 |
Statement of financial position |
12 |
Notes to the financial statements |
13 to 25 |
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OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
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Company secretary |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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Windsor House |
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A1 Business Park at |
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Long Bennington |
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Notts |
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NG23 5JR |
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Bankers |
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Market Street |
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Gainsborough |
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Lincolnshire |
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DN21 2BL |
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STRATEGIC REPORT |
2023 | 2022 | ||
£ | £ | ||
Turnover | 11,559,449 | 11,422,452 | |
Gross Profit | 2,914,819 | 2,083,140 | |
Operating Profit (Loss) | 340,099 | 395,755 | |
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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 |
Windsor House |
A1 Business Park at |
Long Bennington |
Notts |
NG23 5JR |
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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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------------- |
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Gross profit |
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Distribution costs |
(
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(
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Administrative expenses |
(
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(
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Other operating income |
5 |
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Exceptional item |
(
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(
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------------ |
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Operating profit/(loss) |
6 |
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(
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Gain on financial assets at fair value through profit or loss |
– |
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Interest payable and similar expenses |
10 |
(
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(
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Profit/(loss) before taxation |
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(
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Tax on profit/(loss) |
11 |
(
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--------- |
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(Loss)/profit for the financial year and total comprehensive income |
(
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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 |
£ |
£ |
£ |
Intangible assets |
12 |
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Tangible assets |
13 |
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Stocks |
14 |
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Debtors |
15 |
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Investments |
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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(
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Net current liabilities |
(
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(
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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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(
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Taxation including deferred tax |
20 |
(
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(
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Other provisions |
20 |
(
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– |
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(998,016) |
(739,946) |
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Net assets |
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Called up share capital |
24 |
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Profit and loss account |
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Shareholders funds |
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Director |
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NOTES TO THE FINANCIAL STATEMENTS |
Development Costs |
- |
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Land and Buildings |
- |
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Plant and Machinery |
- |
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Fixtures and fittings |
- |
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Motor Vehicles |
- |
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Equipment |
- |
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2023 |
2022 |
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£ |
£ |
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Sale of machinery |
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Sale of spare parts |
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Rendering of services |
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Other income |
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------------- |
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2023 |
2022 |
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£ |
£ |
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United Kingdom |
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Overseas |
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------------- |
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2023 |
2022 |
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£ |
£ |
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Management charges receivable |
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Government grant income |
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– |
Other grant income |
7,795
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1,839
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Other operating income |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Loss/(gains) on disposal of tangible assets |
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(
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Impairment of trade debtors |
(55,320) |
58,781 |
Foreign exchange differences |
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(
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Operating lease |
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--------- |
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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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2023 |
2022 |
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No. |
No. |
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Production staff |
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Distribution staff |
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Administrative staff |
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Management staff |
5 |
5 |
---- |
---- |
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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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Aggregate remuneration |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Interest on obligations under finance leases and hire purchase contracts |
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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 income |
– |
(
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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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Origination and reversal of timing differences |
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(
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Impact of change in tax rate |
– |
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Impact of adjustments in respect of prior periods |
– |
(
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------- |
--------- |
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Total deferred tax |
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--------- |
--------- |
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Tax on profit/(loss) |
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(
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--------- |
--------- |
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2023 |
2022 |
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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 |
177,292
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25,266
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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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Effect of revenue exempt from tax |
– |
(
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Effect of different UK tax rates on some earnings |
9,425 |
177,587 |
R&D tax credits received |
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(
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--------- |
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Tax on profit/(loss) |
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(
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--------- |
--------- |
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Development costs |
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£ |
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Cost |
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At 1 October 2022 |
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Additions |
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------------ |
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At 30 September 2023 |
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------------ |
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Amortisation |
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At 1 October 2022 |
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Charge for the year |
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------------ |
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At 30 September 2023 |
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------------ |
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Carrying amount |
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At 30 September 2023 |
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------------ |
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At 30 September 2022 |
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Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Oct 2022 |
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Additions |
– |
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– |
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Disposals |
– |
(
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(
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(
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(
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(
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------------ |
--------- |
--------- |
-------- |
--------- |
------------ |
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At 30 Sep 2023 |
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------------ |
--------- |
--------- |
-------- |
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Depreciation |
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At 1 Oct 2022 |
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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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(
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------------ |
--------- |
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-------- |
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At 30 Sep 2023 |
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------------ |
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-------- |
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Carrying amount |
||||||
At 30 Sep 2023 |
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------------ |
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-------- |
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At 30 Sep 2022 |
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------------ |
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Freehold property |
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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At 30 September 2023 |
117,563 |
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– |
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--------- |
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---- |
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At 30 September 2022 |
120,313 |
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--------- |
--------- |
------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Work in progress |
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Finished goods and goods for resale |
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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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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Directors loan account |
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– |
Amounts recoverable on contracts |
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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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Investments in group undertakings |
840,000 |
840,000 |
--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Payments received on account |
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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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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
– |
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Other creditors |
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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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Obligations under finance leases and hire purchase contracts |
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--------- |
--------- |
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--------- |
--------- |
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2023 |
2022 |
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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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-------- |
-------- |
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Deferred tax (note 21) |
Other Provision |
Total |
|
£ |
£ |
£ |
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At 1 October 2022 |
|
– |
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Additions |
|
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--------- |
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--------- |
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At 30 September 2023 |
|
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--------- |
--------- |
--------- |
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2023 |
2022 |
|
£ |
£ |
|
Included in provisions (note 20) |
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|
--------- |
--------- |
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2023 |
2022 |
|
£ |
£ |
|
Accelerated capital allowances |
|
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Unused tax losses |
(
|
(
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Other retirement benefits |
(
|
(
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------------ |
------------ |
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745,266 |
739,946 |
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------------ |
------------ |
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2023 |
2022 |
|
£ |
£ |
|
Government grants recognised directly in income |
|
– |
--------- |
---- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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|
4,000 |
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4,000 |
------- |
------- |
------- |
------- |
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2023 |
2022 |
|
£ |
£ |
|
Not later than 1 year |
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Later than 1 year and not later than 5 years |
|
|
Later than 5 years |
|
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------------ |
------------ |
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------------ |
------------ |
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2023 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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– |
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– |
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------- |
--------- |
---- |
--------- |
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(
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– |
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------- |
--------- |
---- |
--------- |
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2022 |
|||||
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
£ |
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(
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(
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(
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(
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– |
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-------- |
-------- |
-------- |
------- |
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(
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(
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(
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-------- |
-------- |
-------- |
------- |
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