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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Director's 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 |
2023 | 2022 | ||
£ | £ | ||
Turnover | 17,175,614 | 20,193,182 | |
Gross profit | 1,339,098 | 6,410,559 | |
(Loss)/Profit before tax | 43,325 | 5,480,476 | |
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Director |
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Registered office: |
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Director's Report |
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Director |
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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 |
Camburgh House |
27 New Dover Road |
Canterbury |
Kent |
CT1 3DN |
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Statement of Income and Retained Earnings |
2023 |
2022 |
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(restated) |
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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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Operating (loss)/profit |
5 |
(
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Other interest receivable and similar income |
9 |
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Profit before taxation |
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Tax on profit |
10 |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
11 |
– |
(
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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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(restated) |
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Note |
£ |
£ |
£ |
Tangible assets |
12 |
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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 |
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Total assets less current liabilities |
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Taxation including deferred tax |
15 |
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Net assets |
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Called up share capital |
19 |
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Capital redemption reserve |
20 |
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Profit and loss account |
20 |
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Shareholders funds |
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Director |
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Statement of Cash Flows |
2023 |
2022 |
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(restated) |
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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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Other interest receivable and similar income |
(
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(
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(Gains)/loss on disposal of tangible assets |
(
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Tax on profit |
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Accrued expenses |
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Changes in: |
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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 received |
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Tax paid |
(
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(
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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 loans from group undertakings |
(
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Dividends paid |
– |
(
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Net cash used in financing activities |
(
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(
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
8,414,653 |
4,414,827 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Plant and Machinery |
- |
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Motor Vehicles |
- |
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Equipment |
- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Rendering of services |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Depreciation of tangible assets |
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(Gains)/loss on disposal of tangible assets |
(
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Impairment of trade debtors |
– |
(4,373) |
--------- |
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2023 |
2022 |
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(restated) |
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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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Management staff |
2 |
2 |
---- |
---- |
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2023 |
2022 |
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(restated) |
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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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2023 |
2022 |
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(restated) |
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£ |
£ |
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Company contributions to defined contribution pension plans |
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-------- |
-------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Interest on cash and cash equivalents |
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-------- |
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2023 |
2022 |
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(restated) |
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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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2023 |
2022 |
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(restated) |
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£ |
£ |
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Profit on ordinary activities before taxation |
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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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Effect of capital allowances and depreciation |
(
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(
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Unused tax losses |
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– |
Deferred tax |
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Tax on profit |
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-------- |
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2023 |
2022 |
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(restated) |
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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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Plant and machinery |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2023 (as restated) |
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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 December 2023 |
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Depreciation |
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At 1 January 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 December 2023 |
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-------- |
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Carrying amount |
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At 31 December 2023 |
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--------- |
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At 31 December 2022 |
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--------- |
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-------- |
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2023 |
2022 |
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(restated) |
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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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– |
Other debtors |
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------------ |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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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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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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Deferred tax (note 16) |
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£ |
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At 1 January 2023 (as restated) |
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Additions |
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--------- |
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At 31 December 2023 |
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--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Included in provisions (note 15) |
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--------- |
--------- |
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2023 |
2022 |
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(restated) |
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£ |
£ |
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Accelerated capital allowances |
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Unused tax losses |
(
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– |
--------- |
--------- |
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225,506 |
193,360 |
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--------- |
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2023 | 2022 | ||
£ | £ | ||
Turnover increase/(decrease) | – | (665,535) | |
Deferred income increase/(decrease) | – | 665,535 | |
Corporation tax increase/(decrease) | – | (126,452) | |
Deferred tax provision increase/(decrease) | – | 143,642 | |
Net assets increase/(decrease) | – | (648,345) | |
2023 |
2022 |
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(restated) |
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No. |
£ |
No. |
£ |
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20 |
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20 |
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60 |
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60 |
---- |
---- |
---- |
---- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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1,855,264 |
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Debt due within one year |
(3,750,000) |
2,800,000 |
(950,000) |
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