The accounts have been corrected to include previoulsy omitted property, proceeds from the sale of property, additional rates charges and previously omitted rent. The 2023 comparative figures have been restated and the effect on the accounts is as follows:
2023 PRIOR to 2023
£ £
Increase in Rental Income 3,790 71,220
Profits from sale of property - 63,616
Increase in Rates (2,496) (6,604)
Resulting Increase in profits 1,294 128,232
Additonal Corporation Tax (260) (24,364)
Increase in profits/reserves £1,034 £103,868
The effects and restatement of the reseves is demonstrated on the Statement of Changes in Equity report.