Company registration number:
05853032
Eastleaf Limited
Unaudited filleted financial statements
30 June 2024
Eastleaf Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Eastleaf Limited
Directors and other information
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Directors |
Mr Navin Khattar |
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Mrs Alison Khattar |
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Secretary |
Mr Ashok Gupta |
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Company number |
05853032 |
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Registered office |
2 Bond Street |
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Chelmsford |
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Essex |
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CM1 1GH |
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Business address |
2 Bond Street |
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Chelmsford |
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Essex |
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CM1 1GH |
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Accountants |
VSP Limited |
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2 Deansway |
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East Finchley |
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London |
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N2 0JF |
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Eastleaf Limited
Statement of financial position
30 June 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
1 |
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1 |
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Investments |
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6 |
10,100 |
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10,100 |
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_______ |
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_______ |
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10,101 |
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10,101 |
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Current assets |
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Stocks |
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2,900,000 |
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3,000,000 |
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Debtors |
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7 |
17,313,609 |
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16,504,209 |
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Cash at bank and in hand |
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193,141 |
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237,852 |
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_______ |
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_______ |
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20,406,750 |
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19,742,061 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
9,738,592) |
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(
9,053,602) |
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_______ |
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_______ |
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Net current assets |
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10,668,158 |
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10,688,459 |
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_______ |
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_______ |
Total assets less current liabilities |
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10,678,259 |
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10,698,560 |
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Creditors: amounts falling due |
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after more than one year |
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9 |
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(
12,820,181) |
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(
12,792,500) |
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_______ |
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Net liabilities |
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(
2,141,922) |
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(
2,093,940) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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10 |
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100 |
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100 |
Profit and loss account |
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(
2,142,022) |
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(
2,094,040) |
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_______ |
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Shareholders deficit |
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(
2,141,922) |
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(
2,093,940) |
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_______ |
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_______ |
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 December 2024
, and are signed on behalf of the board by:
Mr Navin Khattar
Mrs Alison Khattar
Director
Director
Company registration number:
05853032
Eastleaf Limited
Statement of changes in equity
Year ended 30 June 2024
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 July 2022 |
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100 |
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(
2,153,811) |
(
2,153,711) |
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(Loss)/profit for the year |
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59,771 |
59,771 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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- |
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59,771 |
59,771 |
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_______ |
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_______ |
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At 30 June 2023 and 1 July 2023 |
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100 |
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(
2,094,040) |
(
2,093,940) |
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(Loss)/profit for the year |
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(
47,982) |
(
47,982) |
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_______ |
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_______ |
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Total comprehensive income for the year |
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- |
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(
47,982) |
(
47,982) |
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_______ |
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At 30 June 2024 |
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100 |
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(
2,142,022) |
(
2,141,922) |
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_______ |
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_______ |
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Eastleaf Limited
Notes to the financial statements
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Bond Street, Chelmsford, Essex, CM1 1GH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents rental income net of value added tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment |
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20 % |
straight line |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
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5.
Tangible assets
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Fixtures, fittings and equipment |
Total |
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£ |
£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
21,449 |
21,449 |
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_______ |
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Depreciation |
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At 1 July 2023 and 30 June 2024 |
21,448 |
21,448 |
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_______ |
_______ |
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Carrying amount |
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At 30 June 2024 |
1 |
1 |
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_______ |
_______ |
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At 30 June 2023 |
1 |
1 |
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_______ |
_______ |
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6.
Investments
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Shares in group undertakings and participating interests |
Total |
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£ |
£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
10,100 |
10,100 |
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_______ |
_______ |
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Impairment |
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At 1 July 2023 and 30 June 2024 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 30 June 2024 |
10,100 |
10,100 |
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_______ |
_______ |
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At 30 June 2023 |
10,100 |
10,100 |
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_______ |
_______ |
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7.
Debtors
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2024 |
2023 |
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£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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17,283,763 |
16,477,175 |
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Other debtors |
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29,846 |
27,034 |
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_______ |
_______ |
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17,313,609 |
16,504,209 |
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_______ |
_______ |
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8.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Loans |
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8,653,061 |
7,848,062 |
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Trade creditors |
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- |
17 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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1,039,909 |
1,046,835 |
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Other creditors |
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45,622 |
158,688 |
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_______ |
_______ |
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9,738,592 |
9,053,602 |
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_______ |
_______ |
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9.
Creditors: amounts falling due after more than one year
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2024 |
2023 |
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£ |
£ |
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Bank loans |
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12,820,181 |
12,792,500 |
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_______ |
_______ |
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10.
Called up share capital
Issued, called up and fully paid
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2024 |
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2023 |
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No |
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£ |
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No |
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£ |
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Ordinary A shares of £
1.00 each |
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50 |
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50 |
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50 |
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50 |
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Ordinary B shares of £
1.00 each |
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50 |
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50 |
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50 |
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50 |
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_______ |
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_______ |
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_______ |
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_______ |
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100 |
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100 |
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100 |
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100 |
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_______ |
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_______ |
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_______ |
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_______ |
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11.
Related Party Transactions
The company has taken advantage of the exemption in FRS8 "Related Party Disclosures" from disclosing transactions with other members of the group.
12.
Going Concern
The directors consider that the company will have sufficient funds to operate in the foreseeable future. On this basis, it is appropriate to prepare the financial statements on a going concern basis.