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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the members |
6 |
Profit and loss account |
10 |
Balance sheet |
11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditors |
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384 Linthorpe Road |
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Middlesbrough |
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TS5 6HA |
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Bankers |
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23 Market Place |
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Richmond |
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North Yorkshire |
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DL10 4QQ |
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Strategic Report |
2024 | 2023 | Movement | % Change | ||
£ | £ | £ | |||
Turnover | 28,873,930 | 26,423,735 | 2,450,195 | 9 | |
Operating profit | 1,875,985 | 678,255 | 1,197,730 | 177 | |
Net profit | 1,608,862 | 423,557 | 1,185,305 | 280 | |
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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 auditors |
384 Linthorpe Road |
Middlesbrough |
TS5 6HA |
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Profit and Loss Account |
2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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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 |
5 |
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Operating profit |
6 |
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Income from investments |
10 |
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(
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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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Profit before taxation |
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Tax on profit |
13 |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
14 |
(
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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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Balance Sheet |
2024 |
2023 |
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Note |
£ |
£ |
£ |
Tangible assets |
16 |
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Investments |
17 |
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Stocks |
18 |
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Debtors |
19 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
20 |
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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 |
21 |
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Taxation including deferred tax |
23 |
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Net assets |
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Called up share capital |
27 |
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Profit and loss account |
28 |
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Shareholders funds |
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Director |
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Statement of Cash Flows |
2024 |
2023 |
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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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Income from investments |
(
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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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(
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Tax on profit |
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Accrued (income)/expenses |
(
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Changes in: |
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Stocks |
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Trade and other debtors |
(
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(
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Trade and other creditors |
(
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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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Net cash from operating activities |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
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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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Payments of finance lease liabilities |
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(
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Dividends paid |
(
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(
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Net cash from/(used in) financing activities |
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(
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
1,318,854 |
1,490,142 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Goodwill |
- |
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Leasehold Property |
- |
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Plant and machinery |
- |
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Office furniture and equipment |
- |
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Motor vehicles |
- |
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2024 |
2023 |
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£ |
£ |
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Sale of goods |
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Rendering of services |
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2024 |
2023 |
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£ |
£ |
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Rental income |
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Other operating income |
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– |
-------- |
------- |
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-------- |
------- |
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2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
(
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(
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Impairment of trade debtors |
(6,899) |
6,899 |
--------- |
--------- |
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2024 |
2023 |
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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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2024 |
2023 |
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No. |
No. |
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Directors |
3
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3
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Bagging plant and haulage staff |
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---- |
---- |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Wages and salaries |
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Other pension costs |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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– |
--------- |
-------- |
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--------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Gain/(loss) on valuation of bond |
47,039 |
(26,489) |
-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Other interest receivable and similar income |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Other interest payable and similar charges |
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-------- |
-------- |
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-------- |
-------- |
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2024 |
2023 |
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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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Origination and reversal of timing differences |
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Tax on profit |
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2024 |
2023 |
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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 expenses not deductible for tax purposes |
(
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(
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Effect of capital allowances and depreciation |
(
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(
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Utilisation of tax losses |
(
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(
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Unused tax losses |
– |
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Deferred tax movement |
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------------ |
--------- |
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Tax on profit |
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------------ |
--------- |
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2024 |
2023 |
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£ |
£ |
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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Goodwill |
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£ |
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Cost |
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At 1 April 2023 and 31 March 2024 |
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--------- |
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Amortisation |
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At 1 April 2023 and 31 March 2024 |
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--------- |
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Carrying amount |
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At 31 March 2024 |
– |
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At 31 March 2023 |
– |
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Leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 April 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 March 2024 |
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------------ |
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Depreciation |
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At 1 April 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 March 2024 |
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------------ |
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-------- |
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Carrying amount |
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At 31 March 2024 |
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------------ |
------------ |
-------- |
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At 31 March 2023 |
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Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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At 31 March 2024 |
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--------- |
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At 31 March 2023 |
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Other investments other than loans |
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£ |
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Cost |
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At 1 April 2023 |
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Revaluations |
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--------- |
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At 31 March 2024 |
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Impairment |
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At 1 April 2023 and 31 March 2024 |
– |
--------- |
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Carrying amount |
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At 31 March 2024 |
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--------- |
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At 31 March 2023 |
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2024 |
2023 |
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£ |
£ |
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Finished goods and goods for resale |
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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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Corporation tax repayable |
– |
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Directors loan account |
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– |
Other debtors |
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------------ |
------------ |
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------------ |
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2024 |
2023 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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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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2024 |
2023 |
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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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2024 |
2023 |
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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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--------- |
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Deferred tax (note 24) |
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£ |
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At 1 April 2023 |
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Additions |
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--------- |
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At 31 March 2024 |
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--------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 23) |
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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Accelerated capital allowances |
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--------- |
--------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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300 |
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300 |
---- |
---- |
---- |
---- |
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At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
|
£ |
£ |
£ |
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Cash at bank and in hand |
|
1,785,397 |
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Debt due within one year |
(564,954) |
(45,184) |
(610,138) |
Debt due after one year |
(691,293) |
(405,525) |
(1,096,818) |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Not later than 1 year |
|
– |
Later than 1 year and not later than 5 years |
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– |
Later than 5 years |
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– |
--------- |
---- |
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– |
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--------- |
---- |
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Notes to the Financial Statements (continued) |
2024 |
|||||
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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(
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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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(
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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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