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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Director's report |
2 |
Independent auditor's report to the members |
4 |
Statement of income and retained earnings |
8 |
Statement of financial position |
9 |
Statement of cash flows |
10 |
Notes to the financial statements |
11 |
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Strategic Report |
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Director |
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Registered office: |
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Director's Report |
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Director |
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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 |
Camburgh House |
27 New Dover Road |
Canterbury |
Kent |
CT1 3DN |
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Statement of Income and Retained Earnings |
2023 |
2022 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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Gross profit |
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Administrative expenses |
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Operating profit |
5 |
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Interest payable and similar expenses |
8 |
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------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
9 |
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--------- |
--------- |
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(Loss)/profit for the financial year and total comprehensive income |
(
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--------- |
--------- |
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Dividends paid and payable |
10 |
(
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(
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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 |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Tangible assets |
11 |
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Stocks |
12 |
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Debtors |
13 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
15 |
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Net current (liabilities)/assets |
(
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
16 |
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Taxation including deferred tax |
18 |
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Net assets |
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Called up share capital |
21 |
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Profit and loss account |
22 |
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Shareholders funds |
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Director |
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Statement of Cash Flows |
2023 |
2022 |
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Note |
£ |
£ |
(Loss)/profit for the financial year |
(
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Adjustments for: |
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Depreciation of tangible assets |
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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– |
Tax on (loss)/profit |
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Accrued income |
(
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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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--------- |
------------ |
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Cash generated from operations |
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Interest paid |
(
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(
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Tax paid |
(
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(
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--------- |
--------- |
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Net cash used in operating activities |
(
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(
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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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Payments of finance lease liabilities |
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(
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Dividends paid |
(
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(
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--------- |
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Net cash from financing activities |
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--------- |
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
(181,153) |
417,303 |
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Cash and cash equivalents at end of year |
14 |
(
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(
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Notes to the Financial Statements |
Freehold property (land not depreciated) |
- |
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Plant & machinery |
- |
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Fixtures & fittings |
- |
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Motor vehicles |
- |
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2023 |
2022 |
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£ |
£ |
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Sale of goods |
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Rendering of services |
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Commissions |
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------------- |
------------- |
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------------- |
------------- |
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2023 |
2022 |
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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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– |
Foreign exchange differences |
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– |
--------- |
--------- |
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2023 |
2022 |
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No. |
No. |
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Administrative staff |
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Management staff |
10 |
10 |
Number of other staff |
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---- |
---- |
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---- |
---- |
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2023 |
2022 |
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£ |
£ |
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Wages and salaries |
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Other pension costs |
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Remuneration |
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-------- |
-------- |
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2023 |
2022 |
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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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Other interest payable and similar charges |
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--------- |
--------- |
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2023 |
2022 |
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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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-------- |
-------- |
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Tax on (loss)/profit |
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-------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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(Loss)/profit on ordinary activities before taxation |
(
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--------- |
--------- |
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(Loss)/profit on ordinary activities by rate of tax |
(
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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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Effect of different UK tax rates on some earnings |
133,124 |
– |
--------- |
--------- |
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Tax on (loss)/profit |
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--------- |
--------- |
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2023 |
2022 |
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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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Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
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Additions |
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Disposals |
– |
– |
– |
(
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(
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------------ |
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At 31 December 2023 |
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Depreciation |
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At 1 January 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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------------ |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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2023 |
2022 |
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£ |
£ |
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Finished goods and goods for resale |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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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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2023 |
2022 |
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£ |
£ |
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Cash at bank and in hand |
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Bank overdrafts |
(
|
(
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--------- |
--------- |
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(
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(
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--------- |
--------- |
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2023 |
2022 |
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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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Stock financing loans |
987,666
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905,939
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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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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------------ |
------------ |
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2023 |
2022 |
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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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– |
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--------- |
---- |
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Deferred tax (note 19) |
|
£ |
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At 1 January 2023 |
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Additions |
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-------- |
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At 31 December 2023 |
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-------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 18) |
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-------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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Accelerated capital allowances |
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-------- |
-------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
---- |
---- |
---- |
---- |
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At 1 Jan 2023 |
Cash flows |
At 31 Dec 2023 |
|
£ |
£ |
£ |
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Cash at bank and in hand |
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(15,775) |
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Bank overdrafts |
(204,998) |
(165,355) |
(370,353) |
Debt due within one year |
(778,411) |
(337,396) |
(1,115,807) |
Debt due after one year |
(1,842,502) |
(33,550) |
(1,876,052) |
------------ |
--------- |
------------ |
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(
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(
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(
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------------ |
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------------ |
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2023 |
2022 |
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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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Later than 5 years |
– |
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--------- |
--------- |
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--------- |
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