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FINANCIAL STATEMENTS |
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Contents |
Pages |
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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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England |
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Auditor |
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Chartered Accountants & statutory auditor |
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35 Westgate |
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Huddersfield |
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HD1 1PA |
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Bankers |
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33 Park Row |
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Leeds |
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LS1 1LD |
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STRATEGIC REPORT |
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Director |
Director |
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DIRECTORS' REPORT |
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Director |
Director |
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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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35 Westgate |
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Huddersfield |
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HD1 1PA |
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CONSOLIDATED 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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Distribution costs |
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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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Share of profit of associates |
15 |
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Interest payable and similar expenses |
10 |
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Profit before taxation |
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Tax on profit |
11 |
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Profit for the financial year and total comprehensive income |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
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2024 |
2023 |
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Note |
£ |
£ |
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Intangible assets |
13 |
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Tangible assets |
14 |
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Investments: |
15 |
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Investments in associates |
171,467 |
160,593 |
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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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------------ |
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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 |
20 |
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Net assets |
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Called up share capital |
24 |
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Profit and loss account |
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Shareholders funds |
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Director |
Director |
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COMPANY STATEMENT OF FINANCIAL POSITION |
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2024 |
2023 |
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Note |
£ |
£ |
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Investments |
15 |
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Debtors |
17 |
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Creditors: amounts falling due within one year |
18 |
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Net current liabilities |
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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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Net assets |
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Called up share capital |
24 |
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Shareholders funds |
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------------ |
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Director |
Director |
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CONSOLIDATED 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 October 2022 |
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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 |
12 |
– |
(
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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 30 September 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 |
12 |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 30 September 2024 |
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COMPANY 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 October 2022 |
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– |
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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 |
12 |
– |
(
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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 30 September 2023 |
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– |
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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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Dividends paid and payable |
12 |
– |
(
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(
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Total investments by and distributions to owners |
– |
(
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(
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At 30 September 2024 |
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– |
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CONSOLIDATED STATEMENT OF CASH FLOWS |
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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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(
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Share of profit of associates |
(
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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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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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Tax paid |
(
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(
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------------ |
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Net cash (used in)/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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– |
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Purchase of intangible assets |
– |
(
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------------ |
------------ |
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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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Repayments of borrowings |
(
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(
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Government grant income |
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Dividends paid |
(
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(
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------------ |
------------ |
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Net cash from 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 |
1,204,429 |
552,512 |
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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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Goodwill |
- |
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Long leasehold property |
- |
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Short leasehold property |
- |
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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 |
- |
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2024 |
2023 |
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£ |
£ |
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UK |
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Europe |
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Asia |
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USA |
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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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Other operating income |
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------------ |
------------ |
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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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– |
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Impairment of trade debtors |
33,306 |
8,407 |
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Foreign exchange differences |
(
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(
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------------ |
------------ |
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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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Production staff |
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Distribution staff |
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Administrative staff |
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Management staff |
5 |
4 |
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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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------------ |
------------ |
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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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No. |
No. |
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Defined contribution plans |
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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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Dividends paid on shares classed as debt |
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Interest payable on loan notes |
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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 income |
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Foreign current tax income |
(
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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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------------ |
------------ |
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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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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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Other tax adjustments |
|
– |
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Effect of changes in tax rates and roundings |
– |
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Overseas tax at different rates |
– |
(
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Deferred tax not recognised |
(
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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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------------ |
------------ |
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Group |
Goodwill |
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£ |
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Cost |
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At 1 October 2023 and 30 September 2024 |
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------------ |
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Amortisation |
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At 1 October 2023 |
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Charge for the year |
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------------ |
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At 30 September 2024 |
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------------ |
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Carrying amount |
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At 30 September 2024 |
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------------ |
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At 30 September 2023 |
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Group |
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 October 2023 |
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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 30 September 2024 |
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------------ |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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– |
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Disposals |
– |
– |
– |
(
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(
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------------ |
------------ |
------------ |
------------ |
------------ |
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At 30 September 2024 |
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------------ |
------------ |
------------ |
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------------ |
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Carrying amount |
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At 30 September 2024 |
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– |
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------------ |
------------ |
------------ |
------------ |
------------ |
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At 30 September 2023 |
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– |
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------------ |
------------ |
------------ |
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Group |
Interests in associates |
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£ |
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Share of net assets/cost |
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At 1 October 2023 |
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Share of profit or loss |
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------------ |
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At 30 September 2024 |
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------------ |
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Impairment |
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At 1 October 2023 and 30 September 2024 |
– |
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------------ |
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Carrying amount |
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At 30 September 2024 |
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------------ |
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At 30 September 2023 |
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------------ |
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Company |
Shares in group undertakings |
|
£ |
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Cost |
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At 1 October 2023 and 30 September 2024 |
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------------- |
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Impairment |
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At 1 October 2023 and 30 September 2024 |
– |
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------------- |
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Carrying amount |
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At 1 October 2023 and 30 September 2024 |
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------------- |
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At 30 September 2023 |
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------------- |
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Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Russell Way |
Ordinary |
100 |
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Off Bradford Road |
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Brighouse |
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West Yorkshire |
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HD6 4LX |
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Zhuyuantongcun |
Ordinary |
100 |
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Yangxunqiao Town |
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Keqiao District |
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Shaoxing City |
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Zhejiang Province |
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China |
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Russell Way |
Ordinary |
100 |
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Off Bradford Road |
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Brighouse |
|||
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West Yorkshire |
|||
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HD6 4LX |
|||
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Room No 803, Floor 8 Building 13 |
Ordinary |
100 |
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linpimgdadao 633 |
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Linping town |
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Yuhang Hangzhou |
|||
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Zhejiang |
|||
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China |
|||
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|
35 Westgate |
Ordinary |
100 |
|
Huddersfield |
|||
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West Yorkshire |
|||
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HD1 1PA |
|||
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Other significant holdings |
|||
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Shaoxing Sian Flame Retardant Technology Co Limited |
Zhuyuantongcun |
Ordinary |
31 |
|
xangzun Qiao Town |
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Keqiao District |
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Shaoxing City |
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Zhejiang Province |
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China |
|||
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Raw materials and consumables |
|
|
– |
– |
|
Finished goods and goods for resale |
|
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
------------ |
------------ |
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|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade debtors |
|
|
– |
– |
|
Prepayments and accrued income |
|
|
– |
– |
|
Other debtors |
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
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|
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------------ |
------------ |
------------ |
------------ |
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|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Bank loans and overdrafts |
|
|
– |
– |
|
Trade creditors |
|
|
– |
– |
|
Amounts owed to group undertakings |
– |
– |
|
|
|
Accruals and deferred income |
|
|
– |
– |
|
Corporation tax |
|
|
– |
– |
|
Social security and other taxes |
|
|
– |
– |
|
Director loan accounts |
|
|
– |
– |
|
Loan notes |
|
|
|
|
|
Invoice finance facility |
|
|
– |
– |
|
Other creditors |
|
|
|
|
|
------------- |
------------- |
------------ |
------------ |
|
|
|
|
|
|
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|
------------- |
------------- |
------------ |
------------ |
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|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Accruals and deferred income |
|
|
– |
– |
|
Shares classed as financial liabilities |
|
|
|
|
|
Loan notes |
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
|
|
Group |
Deferred tax (note 21) |
|
£ |
|
|
At 1 October 2023 |
|
|
Additions |
|
|
Charge against provision |
(
|
|
------------ |
|
|
At 30 September 2024 |
|
|
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Included in provisions (note 20) |
|
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Accelerated capital allowances |
|
|
– |
– |
|
Deferred income |
(
|
(
|
– |
– |
|
Other timing differences |
(
|
(
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
|
177,371 |
69,605 |
– |
– |
|
|
------------ |
------------ |
------------ |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Government grants recognised directly in income |
|
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
733,333 |
|
733,333 |
|
------------ |
------------ |
------------ |
------------ |
|
|
At 1 Oct 2023 |
Cash flows |
At 30 Sep 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
(328,666) |
|
|
Debt due within one year |
(2,031,682) |
(65,392) |
(2,097,074) |
|
------------ |
------------ |
------------ |
|
|
(
|
(
|
(
|
|
|
------------ |
------------ |
------------ |
|
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
|
Not later than 1 year |
|
|
– |
– |
|
Later than 1 year and not later than 5 years |
|
|
– |
– |
|
Later than 5 years |
|
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
– |
– |
|
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
NOTES TO THE FINANCIAL STATEMENTS (continued) |