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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 comprehensive income |
7 |
Statement of financial position |
8 |
Statement of changes in equity |
9 |
Statement of cash flows |
10 |
Notes to the financial statements |
11 |
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Strategic Report |
2024 | 2023 | ||
£ | £ | ||
Turnover | 10,417,459 | 13,244,357 | |
Profit for the financial year | 80 | 1,188,367 | |
Shareholders funds | 2,585,193 | 3,348,594 | |
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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 |
3 Greengate |
Cardale Park |
Harrogate |
HG3 1GY |
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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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Gross profit |
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Administrative expenses |
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Other operating income |
5 |
– |
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Operating (loss)/profit |
6 |
(
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Interest payable and similar expenses |
9 |
(
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Profit before taxation |
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Tax on profit |
10 |
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Profit for the financial year and total comprehensive income |
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Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
£ |
Intangible assets |
12 |
– |
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Tangible assets |
13 |
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Investments |
14 |
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Stocks |
15 |
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Debtors |
16 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
17 |
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Net current assets |
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Total assets less current liabilities |
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Taxation including deferred tax |
18 |
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Net assets |
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Called up share capital |
22 |
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Profit and loss account |
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Shareholders funds |
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Director |
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Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 July 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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Gifts to EOT |
– |
(534,077) |
(534,077) |
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Total investments by and distributions to owners |
– |
(
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(
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At 30 June 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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Gifts to EOT |
– |
(763,481) |
(763,481) |
---- |
--------- |
--------- |
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Total investments by and distributions to owners |
– |
(
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(
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---- |
------------ |
------------ |
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At 30 June 2024 |
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---- |
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Statement of Cash Flows |
2024 |
2023 |
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£ |
£ |
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Profit for the financial year |
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Adjustments for: |
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Depreciation of tangible assets |
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Amortisation of intangible assets |
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Government grant income |
– |
(
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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 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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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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Tax paid |
(
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(
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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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Acquisition of subsidiaries |
– |
(
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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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Proceeds from loans from group undertakings |
– |
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Government grant income |
– |
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Payments of finance lease liabilities |
– |
(
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Gifts to EOT |
(763,480) |
(534,077) |
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Net cash used in financing activities |
(
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(
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------------ |
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Net increase/(decrease) in cash and cash equivalents |
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(
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Cash and cash equivalents at beginning of year |
281,456 |
605,981 |
--------- |
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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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Land & Buildings |
- |
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Plant & Machinery |
- |
6 years Straight line |
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Motor Vehicles |
- |
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Equipment |
- |
25
% straight line |
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2024 |
2023 |
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£ |
£ |
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Sale of goods |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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United Kingdom |
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Overseas |
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------------- |
------------- |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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Government grant income |
– |
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---- |
-------- |
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2024 |
2023 |
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£ |
£ |
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Amortisation of intangible assets |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
– |
(
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Impairment of trade debtors |
121,958 |
– |
--------- |
--------- |
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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 |
1 |
1 |
---- |
---- |
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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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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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(
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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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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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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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– |
Effect of expenses not deductible for tax purposes |
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Effect of capital allowances and depreciation |
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Effect of different UK tax rates on some earnings |
(1,718) |
– |
------- |
------------ |
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Tax on profit |
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------- |
------------ |
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Goodwill |
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£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
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--------- |
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Amortisation |
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At 1 July 2023 |
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Charge for the year |
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--------- |
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At 30 June 2024 |
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--------- |
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Carrying amount |
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At 30 June 2024 |
– |
--------- |
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At 30 June 2023 |
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Land and buildings |
Plant and machinery |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2023 |
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194,925 |
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Additions |
– |
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– |
7,390 |
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--------- |
------------ |
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At 30 June 2024 |
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202,315 |
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--------- |
------------ |
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Depreciation |
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At 1 July 2023 |
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148,409 |
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Charge for the year |
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16,606 |
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--------- |
------------ |
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At 30 June 2024 |
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165,015 |
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------------ |
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Carrying amount |
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At 30 June 2024 |
– |
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37,300 |
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--------- |
------------ |
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At 30 June 2023 |
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46,516 |
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--------- |
------------ |
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Shares in group undertakings |
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£ |
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Cost |
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At 1 July 2023 and 30 June 2024 |
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------- |
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Impairment |
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At 1 July 2023 and 30 June 2024 |
– |
------- |
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Carrying amount |
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At 30 June 2024 |
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------- |
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At 30 June 2023 |
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------- |
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2024 |
2023 |
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£ |
£ |
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Raw materials and consumables |
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------------ |
------------ |
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2024 |
2023 |
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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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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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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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Director loan accounts |
– |
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Other creditors |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Other creditors |
1,151,587 |
1,381,145 |
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Deferred tax (note 19) |
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£ |
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At 1 July 2023 |
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Additions |
(
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--------- |
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At 30 June 2024 |
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--------- |
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2024 |
2023 |
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£ |
£ |
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Included in provisions (note 18) |
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-------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Accelerated capital allowances |
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Pension plan obligations |
(
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(
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-------- |
--------- |
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76,344 |
107,013 |
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-------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Government grants recognised directly in income |
– |
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---- |
-------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
|
1 |
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– |
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– |
---- |
---- |
---- |
---- |
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---- |
---- |
---- |
---- |
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At 1 Jul 2023 |
Cash flows |
At 30 Jun 2024 |
|
£ |
£ |
£ |
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Cash at bank and in hand |
|
158,720 |
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Debt due within one year |
(13,039) |
11,276 |
(1,763) |
--------- |
--------- |
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--------- |
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2024 |
2023 |
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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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Notes to the Financial Statements (continued) |