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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 |
6 |
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Independent auditor's report to the members |
8 |
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Statement of comprehensive income |
12 |
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Statement of financial position |
13 |
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Statement of changes in equity |
14 |
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Notes to the financial statements |
15 |
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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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Auditor |
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Chartered accountants & statutory auditor |
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Suite 2, 2 Mannin Way |
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Lancaster Business Park |
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Caton Road |
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Lancaster |
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LA1 3SU |
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Bankers |
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4 Robertson Street |
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Hastings |
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East Sussex |
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TB34 1HW |
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17 Wellington Place |
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Hastings |
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East Sussex |
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TN34 1NX |
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Strategic Report |
| 2024 | 2023 | ||
| Turnover (£'000) | 25,942 | 21,286 | |
| Gross profit (£'000) | 10,453 | 8,784 | |
| Gross margin % | 40 | 41 | |
| EBITDA (£'000) | 5,609 | 5,150 | |
| Operating cash flow (£'000) | 5,249 | 4,799 | |
| Net cash (£'000) | 4,872 | 3,852 | |
| Net assets (£'000) | 9,780 | 8,364 | |
| Average number of employees | 81 | 71 | |
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Director |
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Registered office: |
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Directors' 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) |
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For and on behalf of |
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Chartered accountants & statutory auditor |
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Suite 2, 2 Mannin Way |
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Lancaster Business Park |
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Caton Road |
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Lancaster |
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LA1 3SU |
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Statement of Comprehensive Income |
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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 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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Statement of Financial Position |
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2024 |
2023 |
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Note |
£ |
£ |
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Intangible assets |
14 |
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Tangible assets |
15 |
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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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Net current assets |
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Total assets less current liabilities |
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Provisions |
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 Changes in Equity |
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Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 January 2023 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
13 |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 31 December 2023 |
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Profit for the year |
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Total comprehensive income for the year |
– |
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Dividends paid and payable |
13 |
– |
(
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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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At 31 December 2024 |
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Notes to the Financial Statements |
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Goodwill |
- |
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Intellectual property |
- |
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Domain |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
25% reducing balance, 25% straight line on assets purchased 2021 onwards
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Motor vehicles |
- |
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Equipment |
- |
25% reducing balance, 25% straight line on assets purchased 2021 onwards
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2024 |
2023 |
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£ |
£ |
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Sale of goods |
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Rendering of services |
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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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2024 |
2023 |
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£ |
£ |
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Other operating 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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Administrative expenses |
11,311 |
– |
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Loss on disposal of tangible assets |
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Impairment of trade debtors |
17,568 |
60,495 |
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Research and development expenditure written off |
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Foreign exchange differences |
(
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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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2024 |
2023 |
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No. |
No. |
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Distribution staff |
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Administrative staff |
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---- |
---- |
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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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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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No. |
No. |
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Defined contribution plans |
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– |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
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Interest on bank deposits |
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Other interest receivable and similar income |
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-------- |
-------- |
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-------- |
-------- |
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2024 |
2023 |
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£ |
£ |
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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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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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------------ |
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Total current tax |
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Origination and reversal of timing differences |
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Tax on profit |
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2024 |
2023 |
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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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Adjustment to tax charge in respect of prior periods |
(
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(
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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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Patent box reduction |
(
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– |
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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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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year ) |
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Dividends proposed after the year end and not recognised as a liability |
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Goodwill |
Intellectual property |
Domains |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2024 |
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– |
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Additions |
– |
– |
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--------- |
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-------- |
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At 31 December 2024 |
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-------- |
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Amortisation |
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At 1 January 2024 |
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– |
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Charge for the year |
– |
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Impairment losses |
– |
– |
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--------- |
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-------- |
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At 31 December 2024 |
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11,470
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-------- |
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Carrying amount |
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At 31 December 2024 |
– |
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--------- |
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-------- |
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At 31 December 2023 |
– |
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– |
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-------- |
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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 January 2024 |
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Additions |
– |
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– |
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Disposals |
– |
– |
– |
(
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(
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--------- |
------------ |
-------- |
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At 31 December 2024 |
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--------- |
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-------- |
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Depreciation |
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At 1 January 2024 |
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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 December 2024 |
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--------- |
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-------- |
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Carrying amount |
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At 31 December 2024 |
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--------- |
------------ |
-------- |
--------- |
------------ |
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At 31 December 2023 |
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--------- |
------------ |
-------- |
--------- |
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Plant and machinery |
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£ |
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At 31 December 2024 |
– |
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---- |
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At 31 December 2023 |
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------- |
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2024 |
2023 |
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£ |
£ |
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Work in progress |
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Finished goods and goods for resale |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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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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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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2024 |
2023 |
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£ |
£ |
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Not later than 1 year |
– |
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---- |
---- |
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Warranties |
Deferred tax (note 21) |
Total |
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£ |
£ |
£ |
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At 1 January 2024 |
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Charge against provision |
– |
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-------- |
--------- |
--------- |
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At 31 December 2024 |
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-------- |
--------- |
--------- |
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2024 |
2023 |
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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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£ |
£ |
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Accelerated capital allowances |
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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Financial assets measured at fair value through profit or loss |
5,426,733 |
3,819,967 |
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Financial liabilities measured at fair value through profit or loss |
3,805,903 |
2,204,162 |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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28,900 |
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28,900 |
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28,900 |
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28,900 |
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28,900 |
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28,900 |
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-------- |
-------- |
-------- |
-------- |
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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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Later than 5 years |
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------------ |
------------ |
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------------ |
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2024 |
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Balance brought forward |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
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– |
– |
– |
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– |
– |
– |
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---- |
---- |
---- |
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– |
– |
– |
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---- |
---- |
---- |
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2023 |
||||
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Balance brought forward |
Amounts repaid |
Balance outstanding |
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£ |
£ |
£ |
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(
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– |
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(
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– |
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--------- |
--------- |
---- |
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(
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– |
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--------- |
--------- |
---- |
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