Director
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08/01/2025
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Director
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for and on behalf of
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11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
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2024 | 2023 | |||
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Notes | £ | £ | ||
TURNOVER |
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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 |
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OPERATING PROFIT | 3 |
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Profit on disposal of fixed assets |
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Interest payable and similar charges | 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 AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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RETAINED EARNINGS | ||||
As at 1 May 2023 |
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Dividends paid | (728,000) | (728,000) | ||
Prior year adjustment | - | 126,905 | ||
As at 30 April 2024 |
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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 10 |
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CURRENT ASSETS | |||||
Stocks | 11 |
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Debtors | 12 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 13 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | |||||
Provisions For Charges | 15 |
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Deferred Taxation |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 16 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 4,384,282 | 4,372,287 | |||
Director
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2024 | 2023 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
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Interest paid |
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Tax paid |
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Net cash generated from operating activities |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
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Proceeds from disposal of tangible assets |
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Net cash used in investing activities |
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Cash flows from financing activities | ||||
Equity dividends paid |
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Repayment of finance leases |
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Amount introduced by directors | 1,372 | 1,715 | ||
Net cash used in financing activities |
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(Decrease)/increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 |
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Cash and cash equivalents at end of year | 2 |
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2024 | 2023 | ||
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£ | £ | ||
Profit for the financial year |
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Adjustments for: | |||
Tax on profit |
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Interest expense |
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Depreciation of tangible assets |
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Movements in working capital: | |||
(Increase)/decrease in stocks |
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Decrease/(increase) in trade and other debtors |
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( |
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(Decrease)/increase in trade and other creditors |
( |
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Profit on disposal of fixed assets | (25,397) | (10,522) | |
Net cash generated from operations |
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2024 | 2023 | ||
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£ | £ | ||
Cash at bank and in hand |
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As at 1 May 2023 | Cash flows | As at 30 April 2024 | |
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£ | £ | £ | |
Cash at bank and in hand |
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(297,495) |
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Finance leases | - | (237,150) | (237,150) |
3,090,730 | (534,645) | 2,556,085 | |
Freehold |
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Improvements to property |
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Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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2024
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2023
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£
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£
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Hire of plant and machinery
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344,225
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388,457
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Other operating leases
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1,050
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1,050
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Depreciation - owned assets
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401,592
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221,809
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Depreciation - assets on hire purchases contracts
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117,500
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66,665
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Profit on disposal of fixed assets
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(25,397)
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(10,522)
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Auditors remuneration
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10,800
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11,000
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2024 | 2023 | ||
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£ | £ | ||
Bad debts | 151,971 | 145,357 | |
Research and Development Costs | - |
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Depreciation of tangible fixed assets |
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2024 | 2023 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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2024 | 2023 | ||
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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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Office and administration |
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Directors |
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Direct Labour |
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2024 | 2023 | ||
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£ | £ | ||
Emoluments |
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Company contributions to money purchase pension schemes |
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2024 | 2023 | ||
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Money purchase pension schemes |
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2024
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2023
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Benefits in kind - aggregate of all directors
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5,191
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4,495
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2024 | 2023 | ||
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£ | £ | ||
Finance charges payable under finance leases and hire purchase contracts | - | 564 | |
Other finance charges |
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4,546 | 29,829 | ||
The tax charge on the profit for the year was as follows:
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Tax Rate | 2024 | 2023 | |||
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2024 | 2023 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 25.0% | 19.0% |
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Deferred Tax | |||||
Deferred taxation |
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Total tax charge for the period |
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The movement in the deferred tax provision is due to accelerated capital allowances.
The tax assessed for the year ended 30 04 2023 was higher than the standard rate of corporation tax in the UK at 19.493% which consists of: 19% for 335 days and 25% for 30 days of that year.
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
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2024 | 2023 | ||||
£ | £ | ||||
Profit before tax | 988,957 | 887,792 | |||
Tax on profit at 25% (UK standard rate) |
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Goodwill/depreciation not allowed for tax |
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Expenses not deductible for tax purposes |
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Capital allowances |
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Short term timing differences |
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Research and Development tax credit |
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Revenue exempt from taxation |
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Total tax charge for the period | 260,712 | 207,010 | |||
Land & Property | ||||
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Freehold | Improvements to property | Plant & Machinery | Motor Vehicles | |
£ | £ | £ | £ | |
Cost | ||||
As at 1 May 2023 |
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Additions |
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Disposals |
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( |
( |
As at 30 April 2024 |
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Depreciation | ||||
As at 1 May 2023 |
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Provided during the period |
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Disposals |
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( |
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As at 30 April 2024 |
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Net Book Value | ||||
As at 30 April 2024 |
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As at 1 May 2023 |
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Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | |
Cost | |||
As at 1 May 2023 |
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Additions |
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Disposals |
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( |
As at 30 April 2024 |
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Depreciation | |||
As at 1 May 2023 |
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Provided during the period |
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Disposals |
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( |
As at 30 April 2024 |
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Net Book Value | |||
As at 30 April 2024 |
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As at 1 May 2023 |
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2024 | 2023 | ||
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£ | £ | ||
Stock |
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2024 | 2023 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors | 429,083 | 316,964 | |
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2024 | 2023 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Other creditors | 3,725 | 2,338 | |
Corporation tax |
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Taxation and social security | 43,947 | 59,888 | |
Accruals and deferred income |
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2024 | 2023 | ||
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£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
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Deferred Tax | Other Provisions | Total | |
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£ | £ | £ | |
As at 1 May 2023 |
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343,403 |
Deferred taxation |
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- |
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Balance at 30 April 2024 |
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512,765 |
2024 | 2023 | ||
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£ | £ | ||
On equity shares: | |||
Final dividend paid |
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