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FOR THE YEAR ENDED |
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FINANCIAL STATEMENTS |
Contents |
Page |
Strategic Report |
1 |
Directors' Report |
3 |
Independent Auditor's Report to the Members |
5 |
Statement of Comprehensive Income |
10 |
Statement of Financial Position |
11 |
Statement of Changes in Equity |
12 |
Statement of Cash Flows |
13 |
Notes to the Financial Statements |
14 |
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STRATEGIC REPORT |
Registered office: |
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DIRECTORS' REPORT |
Mr J R West
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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 |
Halifax House |
30 George Street |
Hull |
East Yorkshire |
HU1 3AJ |
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STATEMENT OF COMPREHENSIVE INCOME |
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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Distribution costs |
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Administrative expenses |
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------------ |
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Operating Profit |
5 |
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Other interest receivable and similar income |
9 |
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– |
Interest payable and similar expenses |
10 |
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------------ |
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Profit Before Taxation |
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Tax on profit |
11 |
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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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STATEMENT OF FINANCIAL POSITION |
2024 |
2023 |
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Note |
£ |
£ |
£ |
£ |
Tangible assets |
13 |
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Stocks |
14 |
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Debtors |
15 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
16 |
(
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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 |
17 |
(
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(
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Taxation including deferred tax |
19 |
(
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(
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Net Assets |
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Called up share capital |
22 |
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Revaluation reserve |
23 |
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Profit and loss account |
23 |
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(
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Shareholders Funds |
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------------ |
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STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Revaluation reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 April 2022 |
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(
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Profit for the year |
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Other comprehensive income for the year: |
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Reclassification from revaluation reserve to profit and loss account |
– |
(
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– |
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-------- |
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Total Comprehensive Income for the Year |
– |
(
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Dividends paid and payable |
12 |
– |
– |
(
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(
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-------- |
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Total Investments by and Distributions to Owners |
– |
– |
(
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(
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At 31 March 2023 |
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(
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Profit for the year |
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Other comprehensive income for the year: |
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Reclassification from revaluation reserve to profit and loss account |
– |
(
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– |
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Total Comprehensive Income for the Year |
– |
(
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Dividends paid and payable |
12 |
– |
– |
(
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(
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---- |
---- |
--------- |
--------- |
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Total Investments by and Distributions to Owners |
– |
– |
(
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(
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-------- |
------------ |
--------- |
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At 31 March 2024 |
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-------- |
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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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Other interest receivable and similar income |
(
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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 expenses/(income) |
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(
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Changes in: |
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Stocks |
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Trade and other debtors |
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Trade and other creditors |
(
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(
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--------- |
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Cash generated from operations |
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(
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Interest paid |
(
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(
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Interest received |
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– |
Tax received/(paid) |
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(
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--------- |
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Net cash from/(used in) operating activities |
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(
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--------- |
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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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--------- |
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Net cash used in investing activities |
(
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(
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--------- |
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(Repayment of)/Proceeds from borrowings |
(
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Payment of and new hire purchase agreements |
(
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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)/from financing activities |
(
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--------- |
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Net Decrease in Cash and Cash Equivalents |
(
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(
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Cash and Cash Equivalents at Beginning of Year |
246,011 |
351,823 |
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Cash and Cash Equivalents at End of Year |
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NOTES TO THE FINANCIAL STATEMENTS |
Freehold property |
- |
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Plant and machinery |
- |
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Office equipment |
- |
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Motor vehicles |
- |
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Computer equipment |
- |
25%-33% straight line
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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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Gains on disposal of tangible assets |
(
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(
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Foreign exchange differences |
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(
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Operating lease payments |
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--------- |
--------- |
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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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Production staff |
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Distribution staff |
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Administrative 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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Social security costs |
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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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No. |
No. |
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Defined contribution plans |
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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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– |
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--------- |
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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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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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--------- |
--------- |
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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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-------- |
--------- |
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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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– |
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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Tax on profit |
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--------- |
------------ |
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2024 |
2023 |
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£ |
£ |
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Equity dividends on ordinary shares |
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--------- |
-------- |
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Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Computer Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost/Valuation |
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At 1 Apr 2023 |
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Additions |
– |
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– |
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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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At 31 Mar 2024 |
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------------ |
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Depreciation |
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At 1 Apr 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 Mar 2024 |
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------------ |
------------ |
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------------- |
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Carrying amount |
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At 31 Mar 2024 |
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– |
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------------ |
------------ |
--------- |
--------- |
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------------- |
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At 31 Mar 2023 |
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------------ |
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--------- |
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Freehold land and buildings |
Plant and machinery |
Total |
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£ |
£ |
£ |
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At 31 March 2024 |
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Aggregate cost |
964,140 |
6,077,993 |
7,042,133 |
Aggregate depreciation |
(359,029) |
(4,014,561) |
(4,373,590) |
--------- |
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Carrying value |
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At 31 March 2023 |
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Aggregate cost |
964,140 |
6,077,993 |
7,042,133 |
Aggregate depreciation |
(356,281) |
(3,902,298) |
(4,258,579) |
--------- |
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Carrying value |
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--------- |
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Plant and machinery |
Motor vehicles |
Computer Equipment |
Total |
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£ |
£ |
£ |
£ |
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At 31 March 2024 |
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– |
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------------ |
--------- |
---- |
------------ |
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At 31 March 2023 |
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------------ |
--------- |
------- |
------------ |
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2024 |
2023 |
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£ |
£ |
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Raw materials and consumables |
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Finished goods and goods for resale |
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--------- |
--------- |
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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 borrowing and debtor finance |
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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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Other creditors |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
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Bank borrowing and debtor finance |
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Obligations under finance leases and hire purchase contracts |
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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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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 20) |
|
£ |
|
At 1 April 2023 |
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Charge against provision |
(
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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 19) |
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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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19,800 |
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19,800 |
-------- |
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At 1 Apr 2023 |
Cash flows |
At 31 Mar 2024 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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(144,146) |
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Debt due within one year |
(1,754,971) |
392,110 |
(1,362,861) |
Debt due after one year |
(834,085) |
271,745 |
(562,340) |
------------ |
--------- |
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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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-------- |
-------- |
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