Director
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19/09/2024
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Director
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for and on behalf of
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31 Wellington Road
Nantwich
Cheshire
CW5 7ED
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2024 | 2023 | |||
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Notes | £ | £ | ||
TURNOVER |
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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 | 4 |
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Loss on disposal of fixed assets |
( |
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Other interest receivable and similar income | 9 |
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Interest payable and similar charges | 10 |
( |
( |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 11 |
( |
( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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2024 | 2023 | |||
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£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 12 |
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CURRENT ASSETS | |||||
Debtors | 14 |
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Investments | 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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NET CURRENT ASSETS (LIABILITIES) |
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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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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 20 |
( |
( |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 22 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 382,056 | 412,699 | |||
Director
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2024 | 2023 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investments | 13 |
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CURRENT ASSETS | |||||
Debtors | 14 |
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Investments | 15 |
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Cash at bank and in hand |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 22 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 107,025 | 105,463 | |||
Director
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Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 June 2022 |
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497,708 |
Profit for the year and total comprehensive income | - |
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195,008 |
Dividends paid | - | (280,017) | (280,017) |
As at 31 May 2023 and 1 June 2023 |
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412,699 |
Profit for the year and total comprehensive income | - |
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272,105 |
Dividends paid | - | (302,748) | (302,748) |
As at 31 May 2024 |
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382,056 |
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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Interest element of hire purchase payments paid | - | (18,958) | ||
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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Purchase of current asset investments |
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Interest received |
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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 bank borrowings |
( |
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Repayment of other loans | (20,900) | (97,862) | ||
Repayment of finance leases |
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Amount introduced by directors | 3,514 | 6,723 | ||
Amount withdrawn by directors | (22,479) | (88) | ||
Capital repayments in year | - | (96,214) | ||
Net cash used in financing activities |
( |
( |
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Increase/(decrease) 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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Interest income |
( |
( |
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Depreciation of tangible assets |
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Loss on disposal of tangible assets | 3,264 | - | |
Movements in working capital: | |||
Decrease/(increase) in trade and other debtors |
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( |
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Increase in trade and other creditors |
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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 June 2023 | Cash flows | As at 31 May 2024 | |
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£ | £ | £ | |
Cash at bank and in hand |
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68,254 |
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Finance leases | (174,521) | (65,607) | (240,128) |
Debts falling due within one year |
( |
1,478 |
( |
Debts falling due after more than one year | (158,883) | 37,970 | (120,913) |
1,193 | 42,095 | 43,288 | |
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 | 2023 | ||
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£ | £ | ||
Grant income | - |
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Other operating income |
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2,851 | 18,192 | ||
2024 | 2023 | ||
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£ | £ | ||
Bad debts | 5,910 | - | |
Operating lease rentals | - |
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Depreciation of tangible fixed assets |
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2024 | 2023 | ||
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£ | £ | ||
Audit Services | |||
Audit of the group and company's financial statements |
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Other Services | |||
Other non-audit services | - |
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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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Management |
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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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Amounts paid to third parties in respect of directors' services | - |
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2024 | 2023 | ||
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Money purchase pension schemes |
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2024 | 2023 | ||
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£ | £ | ||
Bank interest receivable |
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Other interest receivable | 472 | - | |
9,516 | 614 | ||
2024 | 2023 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Finance charges payable under finance leases and hire purchase contracts | 11,230 | 6,753 | |
25,195 | 21,266 | ||
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% | 20.0% |
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Deferred Tax | |||||
Deferred taxation |
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Total tax charge for the period |
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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 | ||||
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£ | £ | ||||
Profit before tax | 360,524 | 244,856 | |||
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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Research and Development tax credit |
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( |
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Group relief |
( |
( |
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Deferred tax from unrecognised timing difference from a prior period |
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Total tax charge for the period | 88,419 | 49,848 | |||
Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 June 2023 |
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Additions |
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Disposals |
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( |
( |
( |
As at 31 May 2024 |
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Depreciation | |||||
As at 1 June 2023 |
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Provided during the period |
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Disposals |
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( |
( |
( |
As at 31 May 2024 |
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Net Book Value | |||||
As at 31 May 2024 |
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As at 1 June 2023 |
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Subsidiaries | |
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£ | |
Cost | |
As at 1 June 2023 |
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As at 31 May 2024 |
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Provision | |
As at 1 June 2023 |
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As at 31 May 2024 |
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Net Book Value | |
As at 31 May 2024 |
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As at 1 June 2023 |
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Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
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Unit 10 Brindley Court, Dalewood Road, Lymedale Business Park, Newcastle under Lyme, ST5 9QA |
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Group | Company | ||||||
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2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Due within one year | |||||||
Trade debtors |
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Other debtors | 275,264 | 264,183 | 10,639 | 25,000 | |||
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Group | Company | ||||||
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2024 | 2023 | 2024 | 2023 | ||||
£ | £ | £ | £ | ||||
Unlisted investments | 96,000 | 78,000 | 96,000 | 78,000 | |||
Group | ||||
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2024 | 2023 | |||
£ | £ | |||
Net obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Bank loans and overdrafts |
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Other loans |
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Other creditors | 25,050 | 73,197 | ||
Corporation tax |
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Taxation and social security | 30,121 | 26,239 | ||
Accruals and deferred income |
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Group | ||||
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2024 | 2023 | |||
£ | £ | |||
Net obligations under finance lease and hire purchase contracts |
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Bank loans |
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Other loans |
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Group | ||||
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2024 | 2023 | |||
£ | £ | |||
Amounts falling due within one year or on demand: | ||||
Bank loans |
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Other loans |
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Group | ||||
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2024 | 2023 | |||
£ | £ | |||
Amounts falling due between one and five years: | ||||
Bank loans |
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Other loans |
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Group | ||||
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2024 | 2023 | |||
£ | £ | |||
The future minimum finance lease payments are as follows: | ||||
Not later than one year |
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Later than one year and not later than five years |
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2024 | 2023 | ||
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£ | £ | ||
Other timing differences | 90,051 | 85,883 | |
Group | ||
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Deferred Tax | Total | |
£ | £ | |
As at 1 June 2023 |
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85,883 |
Additions |
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4,168 |
Balance at 31 May 2024 |
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90,051 |
2024 | 2023 | ||
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£ | £ | ||
On equity shares: | |||
Final dividend paid |
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