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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 |
9 |
Statement of financial position |
10 |
Statement of cash flows |
11 |
Notes to the financial statements |
12 |
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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 |
168 Church Road |
Hove |
East Sussex |
BN3 2DL |
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STATEMENT OF INCOME AND RETAINED EARNINGS |
2024 |
2023 |
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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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Interest payable and similar expenses |
8 |
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Profit before taxation |
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Tax on profit |
9 |
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---------- |
---------- |
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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 |
10 |
(
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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 |
2024 |
2023 |
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Note |
£ |
£ |
Tangible assets |
12 |
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Stocks |
13 |
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Debtors |
14 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
15 |
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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 |
16 |
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Provisions |
17 |
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Net assets |
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Called up share capital |
20 |
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Profit and loss account |
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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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Interest payable and similar expenses |
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Tax on profit |
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Accrued expenses |
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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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(
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Trade and other creditors |
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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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Tax paid |
(
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(
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---------- |
---------- |
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Net cash from operating activities |
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---------- |
---------- |
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Purchase 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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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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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
47,737 |
203,056 |
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Cash and cash equivalents at end of year |
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NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
Acquired goodwill is written off over its estimated useful economic life.
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Short leasehold property |
- |
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Fixtures and fittings |
- |
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2024 |
2023 |
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£ |
£ |
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Sale of goods |
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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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Impairment of trade debtors |
(20,033) |
45,188 |
Operating lease rentals |
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---------- |
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2024 |
2023 |
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No. |
No. |
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Number of drivers |
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Number of admin & sales staff |
25
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25
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Number of warehouse staff |
29
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28
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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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Social security costs |
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Other pension costs |
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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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Aggregate remuneration |
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Company contributions to defined contribution pension plans |
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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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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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Origination and reversal of timing differences |
(
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(
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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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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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(
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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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Adjustment to decrease deferred tax provision |
(
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(
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---------- |
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Tax on profit |
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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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--------- |
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Goodwill |
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£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
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Amortisation |
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At 1 July 2023 and 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
– |
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At 30 June 2023 |
– |
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Freehold property |
Short leasehold property |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
– |
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Charge for the year |
– |
– |
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---------- |
--------- |
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---------- |
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At 30 June 2024 |
– |
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---------- |
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Carrying amount |
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At 30 June 2024 |
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– |
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---------- |
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At 30 June 2023 |
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– |
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---------- |
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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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Prepayments and accrued income |
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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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Other creditors |
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------------- |
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2024 |
2023 |
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£ |
£ |
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Director loan accounts |
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--------- |
---------- |
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Deferred tax (note 18) |
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£ |
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At 1 July 2023 |
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Charge against provision |
(
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------- |
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At 30 June 2024 |
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------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 17) |
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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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1,000 |
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1,000 |
------- |
------- |
------- |
------- |
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At 1 Jul 2023 |
Cash flows |
At 30 Jun 2024 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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57,653 |
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Debt due within one year |
(567,408) |
248,767 |
(318,641) |
Debt due after one year |
(100,000) |
43,871 |
(56,129) |
---------- |
---------- |
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(
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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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Later than 5 years |
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NOTES TO THE FINANCIAL STATEMENTS (continued) |