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For the year ended |
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Financial Statements |
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Contents |
Page |
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Officers and professional advisers |
1 |
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Strategic report |
2 |
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Directors' report |
4 |
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Independent auditor's report to the members |
6 |
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Statement of income and retained earnings |
10 |
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Statement of financial position |
11 |
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Statement of cash flows |
12 |
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Notes to the financial statements |
13 |
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Officers and Professional Advisers |
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The board of directors |
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Registered office |
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United Kingdom |
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Auditor |
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Chartered accountants & statutory auditor |
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(Statutory Auditor) |
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Suite 2D, Building 1 |
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Eastern Business Park |
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St. Mellons |
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Cardiff |
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CF3 5EA |
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Bankers |
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14 Commercial Street |
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Newport |
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South Wales |
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NP20 1WG |
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Strategic Report |
| 2024 | 2023 | ||
| £ | £ | ||
| Turnover | 19,997,873 | 20,202,318 | |
| Profit before tax | 1,475,336 | 2,436,279 | |
| EBITDA | 1,718,265 | 2,582,371 | |
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Director |
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Registered office: |
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United Kingdom |
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Directors' Report |
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Director |
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Registered office: |
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United Kingdom |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
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For and on behalf of |
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Chartered accountants & statutory auditor |
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(Statutory Auditor) |
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Suite 2D, Building 1 |
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Eastern Business Park |
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St. Mellons |
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Cardiff |
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CF3 5EA |
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Statement of Income and Retained Earnings |
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2024 |
2023 |
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(restated) |
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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 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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Profit before taxation |
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Tax on profit |
12 |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
13 |
(
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(
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Retained earnings at the start of the year (as previously reported) |
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Prior period adjustments |
(1,480,065) |
(889,922) |
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Retained earnings at the start of the year (restated) |
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Retained earnings at the end of the year |
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Statement of Financial Position |
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2024 |
2023 |
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(restated) |
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Note |
£ |
£ |
£ |
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Tangible assets |
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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Creditors: amounts falling due after more than one year |
18 |
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Taxation including deferred tax |
20 |
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Net assets |
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Called up share capital |
24 |
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Profit and loss account |
25 |
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Shareholders funds |
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Director |
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Statement of Cash Flows |
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2024 |
2023 |
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(restated) |
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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 |
176,831 |
149,068 |
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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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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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Accrued expenses |
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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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Trade and other creditors |
(
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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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Tax paid |
(
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(
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Net cash from operating activities |
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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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Net cash used in investing activities |
(
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(
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Proceeds from borrowings |
(
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(
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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 used in financing activities |
(
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(
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
3,039,150 |
1,862,489 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
20
% reducing balance |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Sale of windows and doors |
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------------- |
------------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Management charges receivable |
– |
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Other operating income |
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--------- |
--------- |
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2024 |
2023 |
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(restated) |
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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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(
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Impairment of trade debtors |
63,542 |
104,421 |
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Operating lease costs |
453,978 |
410,596 |
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2024 |
2023 |
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(restated) |
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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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-------- |
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2024 |
2023 |
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(restated) |
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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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2024 |
2023 |
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(restated) |
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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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2024 |
2023 |
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(restated) |
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£ |
£ |
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Interest on loans and receivables |
– |
42,285 |
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Interest on bank deposits |
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------- |
-------- |
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------- |
-------- |
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2024 |
2023 |
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(restated) |
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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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-------- |
-------- |
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-------- |
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2024 |
2023 |
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(restated) |
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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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Tax on profit |
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--------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Profit on ordinary activities before taxation |
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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 revenue exempt from tax |
(
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(
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Deferred tax |
19,476 |
118,235 |
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Tax on profit |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Interim dividends on Ordinary A shares |
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Interim dividends on Ordinary B shares |
719,348
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498,081
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Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 May 2023 (as restated) |
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125,488 |
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Additions |
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9,285 |
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At 30 April 2024 |
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134,773 |
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Depreciation |
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At 1 May 2023 |
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61,848 |
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Charge for the year |
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13,536 |
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At 30 April 2024 |
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75,384 |
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Carrying amount |
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At 30 April 2024 |
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59,389 |
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At 30 April 2023 |
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63,640 |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Raw materials and consumables |
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Work in progress |
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--------- |
--------- |
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--------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Directors loan account |
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Other debtors |
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------------ |
------------ |
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------------ |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Other debtors |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Bank loans and overdrafts |
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Payments received on account |
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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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Other creditors |
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------------ |
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2024 |
2023 |
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(restated) |
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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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2024 |
2023 |
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(restated) |
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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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Deferred tax (note 21) |
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£ |
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At 1 May 2023 (as restated) |
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Additions |
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--------- |
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At 30 April 2024 |
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--------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Included in provisions (note 20) |
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--------- |
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2024 |
2023 |
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(restated) |
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£ |
£ |
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Accelerated capital allowances |
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| Prior Year Adjustment | ||
| £ | ||
| 2021 | 111,652 | |
| 2022 | 329,010 | |
| 2023 | 469,204 | |
| --------- | ||
| Total | 909,866 | |
| As restated | As previously reported | ||
| £ | £ | ||
| Tangible fixed assets | 701,061 | 342,044 | |
| Debtors | 5,718,917 | 2,205,872 | |
| Corporation tax | 578,462 | – | |
| Hire purchase liabilities | 305,148 | 305,148 | |
| Other balance sheet adjustments | |||
| Profits after tax | 1,857,817 | 2,954,924 | |
| Retained earnings at start of year | 3,684,936 | 4,574,858 | |
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2024 |
2023 |
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(restated) |
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No. |
£ |
No. |
£ |
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70 |
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70 |
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30 |
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30 |
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---- |
---- |
---- |
---- |
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---- |
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At 1 May 2023 |
Cash flows |
At 30 Apr 2024 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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(2,179,860) |
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Debt due within one year |
(259,064) |
575 |
(258,489) |
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Debt due after one year |
(659,701) |
259,838 |
(399,863) |
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------------ |
------------ |
--------- |
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(
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------------ |
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2024 |
2023 |
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(restated) |
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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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| 2024 | 2023 | ||
| £ | £ | ||
| Advances | 124,492 | 124,492 | |
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Notes to the Financial Statements (continued) |