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Financial Statements |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 to 4 |
Directors' report |
5 to 6 |
Independent auditor's report to the members |
7 to 10 |
Statement of income and retained earnings |
11 |
Statement of financial position |
12 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 to 24 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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2 Westbrook Court |
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Sharrow Vale Road |
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Sheffield |
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S11 8YZ |
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Bankers |
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Strategic Report |
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Director |
Registered office: |
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Directors' Report |
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Director |
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 |
2 Westbrook Court |
Sharrow Vale Road |
Sheffield |
S11 8YZ |
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Statement of Income and Retained Earnings |
2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
(
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(
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Gross profit |
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Administrative expenses |
(
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(
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Other operating income |
5 |
– |
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Operating profit |
6 |
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Other interest receivable and similar income |
10 |
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Interest payable and similar expenses |
11 |
(
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(
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Profit before taxation |
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Tax on profit |
12 |
(
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(
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
13 |
(
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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 |
2024 |
2023 |
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Note |
£ |
£ |
Tangible assets |
14 |
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Investments |
15 |
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Stocks |
16 |
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Debtors |
17 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
18 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
19 |
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Taxation including deferred tax |
21 |
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Net assets |
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Called up share capital |
25 |
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Capital redemption reserve |
26 |
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Profit and loss account |
26 |
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Shareholders funds |
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Director |
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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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Government grant income |
– |
(41,414) |
Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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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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(
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Trade and other debtors |
(
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(
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Trade and other creditors |
(
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Cash generated from operations |
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Interest paid |
(
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(
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Interest received |
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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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Net cash used in investing activities |
(
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(
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Proceeds from borrowings |
– |
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Repayment of borrowings |
(
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(
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Government grant income |
– |
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Repayment of hire purchase liabilities |
(
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(
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Ordinary dividends paid |
(
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– |
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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 |
658,320 |
256,262 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Freehold buildings |
- |
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Plant & machinery |
- |
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Motor vehicles |
- |
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Office equipment & fixtures |
- |
20% reducing balance/33% straight line
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2024 |
2023 |
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£ |
£ |
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United Kingdom |
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Western hemisphere |
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Eastern hemisphere |
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2024 |
2023 |
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£ |
£ |
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United Kingdom |
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Western hemisphere |
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Eastern hemisphere |
4,387,080
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3,126,626
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2024 |
2023 |
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£ |
£ |
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Government grant income |
– |
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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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Impairment of trade debtors |
15,544 |
(27,650) |
Foreign exchange differences |
(
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(
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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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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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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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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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2024 |
2023 |
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£ |
£ |
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Interest on cash and cash equivalents |
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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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--------- |
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2024 |
2023 |
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£ |
£ |
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UK current tax expense |
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– |
Origination and reversal of timing differences |
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Tax on profit |
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2024 |
2023 |
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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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Effect of expenses not deductible for tax purposes |
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Utilisation of tax losses |
– |
(
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R&D tax adjustment |
(
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– |
Accelerated capital allowances |
35,110
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Superdeduction on qualifying plant and machinery |
– |
(33,233)
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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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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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– |
--------- |
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Freehold property |
Plant and machinery |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 October 2023 |
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Additions |
– |
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– |
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-------- |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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-------- |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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-------- |
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At 30 September 2023 |
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Plant and machinery |
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£ |
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At 30 September 2024 |
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At 30 September 2023 |
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Shares in group undertakings |
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£ |
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Cost |
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At 1 October 2023 and 30 September 2024 |
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Impairment |
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At 1 October 2023 and 30 September 2024 |
– |
-------- |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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2024 |
2023 |
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£ |
£ |
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Raw materials and consumables |
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Work in progress |
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Finished goods and goods for resale |
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------------ |
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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Amounts owed by related parties |
– |
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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 loans and overdrafts |
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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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Director loan accounts |
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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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Bank loans and overdrafts |
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Obligations under finance leases and hire purchase contracts |
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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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Deferred tax (note 22) |
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£ |
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At 1 October 2023 |
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Additions |
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--------- |
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At 30 September 2024 |
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--------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 21) |
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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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£ |
£ |
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Government grants recognised directly in income |
– |
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---- |
-------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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445,054 |
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445,054 |
--------- |
--------- |
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At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
509,252 |
|
Debt due within one year |
(548,390) |
(28,994) |
(577,384) |
Debt due after one year |
(1,473,352) |
45,685 |
(1,427,667) |
------------ |
--------- |
------------ |
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(
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(
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Notes to the Financial Statements (continued) |