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FINANCIAL STATEMENTS |
Contents |
Pages |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
3 to 4 |
Independent auditor's report to the members |
5 to 8 |
Consolidated statement of comprehensive income |
9 |
Consolidated statement of financial position |
10 |
Company statement of financial position |
11 |
Consolidated statement of changes in equity |
12 |
Company statement of changes in equity |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 to 25 |
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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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United Kingdom |
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Auditor |
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Chartered Certified Accountants & statutory auditor |
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Numeric House |
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98 Station Road |
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Sidcup |
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Kent |
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DA15 7BY |
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Bankers |
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Bromley and Bexley Corporate Team |
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PO Box 160 |
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Donegal House |
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73 Tweedy House |
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Bromley |
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Kent |
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BR1 1UE |
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STRATEGIC REPORT |
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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 MEMBERS OF
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Certified Accountants & statutory auditor |
Numeric House |
98 Station Road |
Sidcup |
Kent |
DA15 7BY |
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
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 (loss)/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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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
12 |
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(
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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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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 |
18 |
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------------ |
------------ |
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Net current liabilities |
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------------ |
------------ |
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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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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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Profit and loss account |
25 |
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------------ |
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Shareholders 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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------------ |
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Debtors |
17 |
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Cash at bank and in hand |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
18 |
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--------- |
--------- |
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Net current liabilities |
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------------ |
------------ |
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Total assets less current liabilities |
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Taxation including deferred tax |
21 |
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– |
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
24 |
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Profit and loss account |
25 |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 August 2022 |
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Profit for the year |
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------------ |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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At 31 July 2023 |
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Loss for the year |
(
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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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------------ |
------------ |
------------ |
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At 31 July 2024 |
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------------ |
------------ |
------------ |
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COMPANY STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 August 2022 |
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Profit for the year |
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------------ |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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At 31 July 2023 |
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Profit for the year |
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------------ |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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------------ |
------------ |
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At 31 July 2024 |
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------------ |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
2024 |
2023 |
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£ |
£ |
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(Loss)/profit for the financial year |
(
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Adjustments for: |
||
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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Loss/(gains) on disposal of tangible assets |
|
(
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Tax on profit |
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(
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Accrued expenses |
– |
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Changes in: |
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Stocks |
(
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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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--------- |
--------- |
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Net cash 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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Payments of finance lease liabilities |
(
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(
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--------- |
--------- |
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Net cash used in financing activities |
(
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(
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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 |
710,148 |
419,346 |
--------- |
--------- |
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Cash and cash equivalents at end of year |
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--------- |
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NOTES TO THE FINANCIAL STATEMENTS |
Goodwill |
- |
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Freehold property |
- |
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Plant and machinery |
- |
25% reducing balance
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Fixtures and fittings |
- |
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Motor vehicles |
- |
25% reducing balance
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2024 |
2023 |
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£ |
£ |
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Rendering of services |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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Rental 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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Loss/(gains) on disposal of tangible assets |
|
(
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Impairment of trade debtors |
130,576 |
64,646 |
--------- |
--------- |
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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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Other non-audit services |
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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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Management staff |
3 |
3 |
---- |
---- |
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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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Company contributions to defined contribution pension plans |
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--------- |
--------- |
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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 |
|
|
------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
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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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|
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
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Origination and reversal of timing differences |
|
(
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-------- |
-------- |
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Tax on profit |
|
(
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
|
(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 |
– |
4,170 |
Utilisation of tax losses |
|
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Effect of deferred tax charge |
|
(
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Other tax adjustment to increase/(decrease) tax liability 2 - desc in a/cs |
(4,427)
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(4,170)
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-------- |
--------- |
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Tax on profit |
|
(
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-------- |
--------- |
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Group |
Goodwill |
£ |
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Cost |
|
At 1 August 2023 and 31 July 2024 |
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--------- |
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Amortisation |
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At 1 August 2023 and 31 July 2024 |
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--------- |
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Carrying amount |
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At 1 August 2023 and 31 July 2024 |
– |
--------- |
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At 31 July 2023 |
– |
--------- |
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Group |
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
£ |
£ |
£ |
£ |
£ |
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Cost or valuation |
|||||
At 1 August 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 July 2024 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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Depreciation |
|||||
At 1 August 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 31 July 2024 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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Carrying amount |
|||||
At 31 July 2024 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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At 31 July 2023 |
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------------ |
--------- |
--------- |
------------ |
------------ |
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Company |
Land and buildings |
Plant and machinery |
Total |
£ |
£ |
£ |
|
Cost or valuation |
|||
At 1 August 2023 |
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Revaluations |
|
– |
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------------ |
-------- |
------------ |
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At 31 July 2024 |
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------------ |
-------- |
------------ |
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Depreciation |
|||
At 1 August 2023 |
– |
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Charge for the year |
– |
|
|
------------ |
-------- |
------------ |
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At 31 July 2024 |
– |
|
|
------------ |
-------- |
------------ |
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Carrying amount |
|||
At 31 July 2024 |
|
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|
------------ |
-------- |
------------ |
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At 31 July 2023 |
|
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|
------------ |
-------- |
------------ |
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Group |
Plant and machinery |
Motor vehicles |
Total |
£ |
£ |
£ |
|
At 31 July 2024 |
|
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|
-------- |
--------- |
--------- |
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At 31 July 2023 |
|
|
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-------- |
--------- |
------------ |
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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 August 2023 and 31 July 2024 |
|
------------ |
|
Impairment |
|
At 1 August 2023 and 31 July 2024 |
– |
------------ |
|
Carrying amount |
|
At 1 August 2023 and 31 July 2024 |
|
------------ |
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At 31 July 2023 |
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------------ |
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Class of share |
Percentage of shares held |
|
Subsidiary undertakings |
||
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Ordinary |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Finished goods and goods for resale |
|
|
– |
– |
-------- |
------- |
---- |
---- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
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Trade debtors |
|
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Prepayments and accrued income |
|
|
– |
– |
Directors loan account |
– |
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– |
– |
Other debtors |
|
|
– |
– |
------------ |
------------ |
------- |
------- |
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------------ |
------------ |
------- |
------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
– |
– |
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Accruals and deferred income |
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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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|
– |
– |
Other creditors |
|
|
– |
– |
------------ |
------------ |
--------- |
--------- |
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|
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|
------------ |
------------ |
--------- |
--------- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Obligations under finance leases and hire purchase contracts |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
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|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
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Group |
Deferred tax (note 22) |
£ |
|
At 1 August 2023 |
|
Additions |
|
--------- |
|
At 31 July 2024 |
|
--------- |
|
Company |
Deferred tax (note 22) |
£ |
|
At 1 August 2023 |
– |
Additions |
|
-------- |
|
At 31 July 2024 |
|
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provisions (note 21) |
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|
– |
--------- |
--------- |
-------- |
---- |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
(
|
– |
--------- |
--------- |
------- |
---- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,755,000 |
|
1,755,000 |
|
|
146,250 |
|
146,250 |
|
|
48,750 |
|
48,750 |
------------ |
------------ |
------------ |
------------ |
|
|
1,950,000 |
|
1,950,000 |
|
------------ |
------------ |
------------ |
------------ |
|
At 1 Aug 2023 |
Cash flows |
At 31 Jul 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
12,934 |
|
Debt due within one year |
(371,179) |
24,372 |
(346,807) |
Debt due after one year |
(325,376) |
66,959 |
(258,417) |
--------- |
--------- |
--------- |
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--------- |
--------- |
--------- |
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