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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the member |
6 |
Consolidated statement of income and retained earnings |
10 |
Company statement of income and retained earnings |
11 |
Consolidated statement of financial position |
12 |
Company statement of financial position |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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Dyfed |
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Auditor |
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Chartered accountants & statutory auditor |
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1 Picton Lane |
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Swansea |
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SA1 4AF |
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Bankers |
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1 Churchill Place |
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London |
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United Kingdom |
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E14 5HP |
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Strategic Report |
2024 | 2023 | 2022 | 2021 | 2020 | ||
£ | £ | £ | £ | £ | ||
Sales | 36,179,635 | 31,084,134 | 30,435,223 | 23,478,090 | 22,207,817 | |
Gross Profit | 2,561,707 | 2,587,897 | 2,545,001 | 2,199,298 | 1,336,382 | |
Operating Profit | 313,736 | 1,005,776 | 770,397 | 1,016,776 | 15,498 | |
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Director |
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Directors' Report |
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Director |
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Independent Auditor's Report to the Member of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered accountants & statutory auditor |
1 Picton Lane |
Swansea |
SA1 4AF |
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Consolidated 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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Other operating income |
5 |
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– |
------------ |
------------ |
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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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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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--------- |
--------- |
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Retained earnings at the start of the year |
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------------ |
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Retained earnings at the end of the year |
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------------ |
------------ |
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Company Statement of Income and Retained Earnings |
2024 |
2023 |
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Note |
£ |
£ |
Profit for the financial year and total comprehensive income |
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Retained earnings at the start of the year |
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------------ |
------------ |
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Retained earnings at the end of the year |
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------------ |
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Consolidated Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
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Tangible assets |
14 |
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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 |
19 |
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Net current assets |
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Total assets less current liabilities |
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Taxation including deferred tax |
20 |
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------------ |
------------ |
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Net assets |
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Called up share capital |
23 |
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Profit and loss account |
24 |
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Shareholder funds |
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------------ |
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Director |
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Company Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
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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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Creditors: amounts falling due within one year |
19 |
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Net current assets |
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------------ |
------------ |
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Total assets less current liabilities |
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Taxation including deferred tax |
20 |
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------------ |
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Net assets |
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------------ |
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Called up share capital |
23 |
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Profit and loss account |
24 |
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------------ |
------------ |
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Shareholder funds |
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------------ |
------------ |
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Director |
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Consolidated Statement of Cash Flows |
2024 |
2023 |
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Note |
£ |
£ |
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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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 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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Trade and other creditors |
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--------- |
------------ |
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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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Tax paid |
(
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(
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--------- |
------------ |
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Net cash (used in)/from operating activities |
(
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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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Proceeds from borrowings |
– |
(
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--------- |
------------ |
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Net cash used in financing activities |
– |
(
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--------- |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
48,667 |
(386,748) |
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--------- |
--------- |
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Cash and cash equivalents at end of year |
18 |
(
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--------- |
--------- |
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Notes to the Financial Statements |
Goodwill |
- |
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Freehold property |
- |
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Short leasehold property |
- |
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Plant and machinery |
- |
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Motor vehicles |
- |
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2024 |
2023 |
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£ |
£ |
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Vehicle sales |
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Parts, bodyshop and service sales |
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Bonus and finance income |
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Rental and miscellaneous income |
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------------- |
------------- |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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Management charges receivable |
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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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Impairment of trade debtors |
118,515 |
33,676 |
--------- |
--------- |
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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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£ |
£ |
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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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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Remuneration |
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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Aggregate remuneration |
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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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– |
Other interest receivable and similar income |
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--------- |
---- |
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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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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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-------- |
--------- |
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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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--------- |
--------- |
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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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(
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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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Rounding on tax charge |
(
1) |
8 |
--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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Group and company |
Goodwill |
£ |
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Cost |
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At 1 May 2023 and 30 April 2024 |
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--------- |
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Amortisation |
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At 1 May 2023 and 30 April 2024 |
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--------- |
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Carrying amount |
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At 1 May 2023 and 30 April 2024 |
– |
--------- |
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At 30 April 2023 |
– |
--------- |
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Group and company |
Freehold property |
Short leasehold property |
Plant and machinery |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
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Cost |
|||||
At 1 May 2023 |
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Additions |
– |
– |
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Disposals |
– |
– |
– |
(
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(
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------------ |
--------- |
------------ |
------------ |
------------ |
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At 30 April 2024 |
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------------ |
--------- |
------------ |
------------ |
------------ |
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Depreciation |
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At 1 May 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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At 30 April 2024 |
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------------ |
--------- |
------------ |
------------ |
------------ |
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Carrying amount |
|||||
At 30 April 2024 |
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------------ |
--------- |
------------ |
------------ |
------------ |
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At 30 April 2023 |
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------------ |
--------- |
------------ |
------------ |
------------ |
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Group |
Company |
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£ |
£ |
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At 1 May 2023 and 30 April 2024 |
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------------ |
--------- |
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At 1 May 2023 |
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------------ |
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Company |
Shares in group undertakings |
£ |
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Cost |
|
At 1 May 2023 and 30 April 2024 |
|
---- |
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Impairment |
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At 1 May 2023 and 30 April 2024 |
– |
---- |
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Carrying amount |
|
At 1 May 2023 and 30 April 2024 |
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---- |
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At 30 April 2023 |
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---- |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Raw materials and consumables |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
– |
– |
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Prepayments and accrued income |
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Corporation tax repayable |
|
– |
|
– |
Directors loan account |
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Other debtors |
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
|
Cash at bank and in hand |
– |
|
Bank overdrafts |
(
|
– |
--------- |
-------- |
|
(
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|
|
--------- |
-------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
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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Other creditors |
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
------------ |
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Group and company |
Deferred tax (note 21) |
£ |
|
At 1 May 2023 |
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Additions |
|
--------- |
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At 30 April 2024 |
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--------- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
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Included in provisions (note 20) |
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--------- |
-------- |
--------- |
-------- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
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--------- |
-------- |
--------- |
-------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
5,000 |
5,000 |
5,000 |
5,000 |
------- |
------- |
------- |
------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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|
5,000 |
|
5,000 |
------- |
------- |
------- |
------- |
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At 1 May 2023 |
Cash flows |
At 30 Apr 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(48,667) |
– |
Bank overdrafts |
– |
(413,939) |
(413,939) |
-------- |
--------- |
--------- |
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(
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(
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-------- |
--------- |
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Notes to the Financial Statements (continued) |