Company registration number:
04837576
Procreation UK Limited
Unaudited filleted financial statements
31 July 2024
Procreation UK Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Procreation UK Limited
Directors and other information
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Directors |
Mr Matthew Francis |
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Mrs Joanne Francis |
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Secretary |
Mr Matthew Francis |
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Company number |
04837576 |
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Registered office |
59 Hampton Road |
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Teddington |
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Middlesex |
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TW11 0LA |
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Business address |
59 Hampton Road |
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Teddington |
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Middlesex |
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TW11 0LA |
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Procreation UK Limited
Statement of financial position
31 July 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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6 |
38,440 |
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62,090 |
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_______ |
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_______ |
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38,440 |
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62,090 |
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Current assets |
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Debtors |
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7 |
20,691 |
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111,602 |
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Cash at bank and in hand |
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40,685 |
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4,384 |
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_______ |
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_______ |
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61,376 |
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115,986 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
91,040) |
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(
83,393) |
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_______ |
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_______ |
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Net current (liabilities)/assets |
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(
29,664) |
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32,593 |
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_______ |
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_______ |
Total assets less current liabilities |
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8,776 |
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94,683 |
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Provisions for liabilities |
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(
2,134) |
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(
4,331) |
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_______ |
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_______ |
Net assets |
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6,642 |
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90,352 |
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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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300 |
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300 |
Profit and loss account |
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6,342 |
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90,052 |
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_______ |
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_______ |
Shareholders funds |
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6,642 |
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90,352 |
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_______ |
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_______ |
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For the year ending 31 July 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
25 February 2025
, and are signed on behalf of the board by:
Mr Matthew Francis
Mrs Joanne Francis
Director
Director
Company registration number:
04837576
Procreation UK Limited
Statement of changes in equity
Year ended 31 July 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 August 2022 |
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300 |
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301,335 |
301,635 |
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Profit/(loss) for the year |
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(
37,047) |
(
37,047) |
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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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(
37,047) |
(
37,047) |
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Dividends paid and payable |
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(
174,236) |
(
174,236) |
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_______ |
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_______ |
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Total investments by and distributions to owners |
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- |
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(
174,236) |
(
174,236) |
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_______ |
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_______ |
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At 31 July 2023 and 1 August 2023 |
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300 |
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90,052 |
90,352 |
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Profit/(loss) for the year |
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12,146 |
12,146 |
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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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12,146 |
12,146 |
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Dividends paid and payable |
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(
95,856) |
(
95,856) |
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_______ |
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_______ |
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Total investments by and distributions to owners |
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- |
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(
95,856) |
(
95,856) |
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_______ |
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At 31 July 2024 |
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300 |
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6,342 |
6,642 |
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_______ |
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_______ |
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Procreation UK Limited
Notes to the financial statements
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Procreation UK Limited, 59 Hampton Road, Teddington, Middlesex, TW11 0LA.
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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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:
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.
Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.
Defined contribution plans
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
3
).
5.
Tax on profit/loss
Major components of tax income
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2024 |
2023 |
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£ |
£ |
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Current tax: |
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UK current tax expense |
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7,938 |
- |
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Adjustments in respect of previous periods |
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(
6,760) |
- |
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_______ |
_______ |
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Total current tax |
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1,178 |
- |
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Deferred tax: |
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Origination and reversal of timing differences |
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(
2,197) |
(
2,197) |
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_______ |
_______ |
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Tax on profit/loss |
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(
1,019) |
(
2,197) |
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_______ |
_______ |
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Reconciliation of tax income
The tax assessed on the profit/loss for the year is lower than (2023: higher than) the
standard rate of corporation tax in the UK
of
25.00
% (2023: 19.00%).
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2024 |
2023 |
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£ |
£ |
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Profit/(loss) before taxation |
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11,127 |
(
39,244) |
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_______ |
_______ |
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Profit/(loss) multiplied by rate of tax |
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2,782 |
(
7,456) |
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Adjustments in respect of prior periods |
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(
6,760) |
- |
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Effect of expenses not deductible for tax purposes |
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565 |
- |
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Effect of capital allowances and depreciation |
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5,910 |
- |
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Marginal Relief |
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(
1,319) |
- |
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_______ |
_______ |
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Tax on profit/loss |
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1,178
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(7,456) |
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_______ |
_______ |
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6.
Tangible assets
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Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 August 2023 |
225,714 |
87,158 |
312,872 |
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Additions |
4,066 |
- |
4,066 |
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_______ |
_______ |
_______ |
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At 31 July 2024 |
229,780 |
87,158 |
316,938 |
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_______ |
_______ |
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Depreciation |
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At 1 August 2023 |
212,680 |
38,102 |
250,782 |
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Charge for the year |
9,200 |
18,516 |
27,716 |
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_______ |
_______ |
_______ |
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At 31 July 2024 |
221,880 |
56,618 |
278,498 |
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_______ |
_______ |
_______ |
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Carrying amount |
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At 31 July 2024 |
7,900 |
30,540 |
38,440 |
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_______ |
_______ |
_______ |
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At 31 July 2023 |
13,034 |
49,056 |
62,090 |
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_______ |
_______ |
_______ |
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7.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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20,691 |
105,332 |
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Other debtors |
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- |
6,270 |
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_______ |
_______ |
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20,691 |
111,602 |
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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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Trade creditors |
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19,534 |
21,856 |
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Corporation tax |
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7,938 |
- |
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Social security and other taxes |
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9,829 |
29,655 |
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Other creditors |
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53,739 |
31,882 |
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_______ |
_______ |
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91,040 |
83,393 |
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_______ |
_______ |
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9.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2024 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Matthew Francis |
(
1) |
1 |
- |
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_______ |
_______ |
_______ |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Matthew Francis |
- |
- |
- |
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_______ |
_______ |
_______ |
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