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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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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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12 Longbow Close |
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Pennine Business Park |
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Bradley |
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Huddersfield |
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HD2 1GQ |
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STRATEGIC REPORT |
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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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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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Operating profit |
5 |
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Gain on financial assets at fair value through profit or loss |
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Income from current asset investments |
9 |
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– |
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Other interest receivable and similar income |
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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Tangible assets |
14 |
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Stocks |
16 |
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Debtors |
17 |
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Investments |
18 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
19 |
(
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(
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Net current assets |
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Total assets less current liabilities |
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Taxation including deferred tax |
20 |
(
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(
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Net assets |
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Called up share capital |
23 |
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Share premium account |
24 |
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Other reserves, including the fair value reserve |
24 |
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Profit and loss account |
24 |
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Shareholders funds |
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Director |
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BALANCE SHEET |
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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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Net current assets |
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Total assets less current liabilities |
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Called up share capital |
23 |
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Share premium account |
24 |
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Profit and loss account |
24 |
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Shareholders funds |
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Director |
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
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Called up share capital |
Share premium account |
Other reserves, including the fair value reserve |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
£ |
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At 1 November 2022 |
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(
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Profit for the year |
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Other comprehensive income for the year: |
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Unrealised profit on listed investments |
– |
– |
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(
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– |
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Deferred taxation on unrealised profits |
– |
– |
(
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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 31 October 2023 |
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Profit for the year |
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Other comprehensive income for the year: |
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Unrealised profit on listed investments |
– |
– |
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(
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– |
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Deferred taxation on unrealised profits |
– |
– |
(
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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 31 October 2024 |
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STATEMENT OF CHANGE IN SHAREHOLDERS FUNDS |
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Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 November 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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Total investments by and distributions to owners |
– |
– |
(
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(
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At 31 October 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 31 October 2024 |
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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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Gain on financial assets at fair value through profit or loss |
(62,936) |
(23,195) |
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Income from current asset investments |
(
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– |
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Other interest receivable and similar income |
(
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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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Trade and other debtors |
(
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Trade and other creditors |
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(
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------------ |
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Cash generated from operations |
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Interest received |
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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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Purchase of tangible assets |
(
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(
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Purchases of other investments |
(
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(
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Proceeds from sale of other investments |
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– |
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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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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 increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year |
1,457,690 |
1,394,867 |
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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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Short leasehold property |
- |
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Plant & machinery |
- |
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Fixtures & fittings |
- |
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Motor vehicles |
- |
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Computer equipment |
- |
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2024 |
2023 |
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£ |
£ |
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Rendering of services |
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------------- |
------------- |
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2024 |
2023 |
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£ |
£ |
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Depreciation of tangible assets |
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Impairment of trade debtors |
5,798 |
(7,162) |
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Operating lease rentals |
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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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------------ |
------------ |
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2024 |
2023 |
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No. |
No. |
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Engineering |
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Sales |
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Directors and administrative |
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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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Aggregate remuneration |
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Company contributions to defined contribution pension plans |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Income from current asset investments |
33,901 |
– |
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------------ |
------------ |
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2024 |
2023 |
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£ |
£ |
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Interest on cash and cash equivalents |
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Interest received on taxation |
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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 income |
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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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Effect of expenses not deductible for tax purposes |
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Effect of revenue exempt from tax |
(
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– |
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Deferred tax not recognised in prior year |
(
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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 November 2023 and 31 October 2024 |
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Amortisation |
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At 1 November 2023 and 31 October 2024 |
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Carrying amount |
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At 1 November 2023 and 31 October 2024 |
– |
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At 31 October 2023 |
– |
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Group |
Short leasehold property |
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 Nov 2023 |
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Additions |
– |
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– |
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------------ |
------------ |
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At 31 Oct 2024 |
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------------ |
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Depreciation |
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At 1 Nov 2023 |
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Charge for the year |
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------------ |
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At 31 Oct 2024 |
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------------ |
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Carrying amount |
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At 31 Oct 2024 |
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------------ |
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At 31 Oct 2023 |
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Company |
Shares in group undertakings |
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£ |
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Cost |
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At 1 November 2023 and 31 October 2024 |
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Impairment |
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At 1 November 2023 and 31 October 2024 |
– |
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------------ |
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Carrying amount |
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At 1 November 2023 and 31 October 2024 |
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------------ |
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At 31 October 2023 |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Raw materials and consumables |
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– |
– |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Trade debtors |
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– |
– |
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Prepayments and accrued income |
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– |
– |
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Amounts owed by related undertakings |
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– |
– |
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Other debtors |
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------------ |
------------ |
------------ |
------------ |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Listed investments |
935,354 |
779,917 |
– |
– |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
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Trade creditors |
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– |
– |
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Accruals and deferred income |
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– |
– |
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Corporation tax |
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– |
– |
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Social security and other taxes |
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– |
– |
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Other creditors |
|
– |
– |
– |
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------------ |
------------ |
------------ |
------------ |
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– |
– |
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------------ |
------------ |
------------ |
------------ |
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Group |
Deferred tax (note 21) |
|
£ |
|
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At 1 November 2023 |
|
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Additions |
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------------ |
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At 31 October 2024 |
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------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
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Included in provisions (note 20) |
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– |
– |
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------------ |
------------ |
------------ |
------------ |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
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Accelerated capital allowances |
|
|
– |
– |
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Other revaluations |
|
|
– |
– |
|
Unused tax losses |
(
|
– |
– |
– |
|
Other timing differences |
(
|
(
|
– |
– |
|
------------ |
------------ |
------------ |
------------ |
|
|
22,199 |
15,797 |
– |
– |
|
|
------------ |
------------ |
------------ |
------------ |
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|
2024 |
2023 |
|||
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No. |
£ |
No. |
£ |
|
|
|
|
152 |
|
152 |
|
|
|
16 |
|
16 |
|
|
|
16 |
|
16 |
|
|
|
16 |
|
16 |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
200 |
|
200 |
|
|
------------ |
------------ |
------------ |
------------ |
|
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At 1 Nov 2023 |
Cash flows |
At 31 Oct 2024 |
|
|
£ |
£ |
£ |
|
|
Cash at bank and in hand |
|
526,521 |
|
|
Current asset investments |
|
155,437 |
|
|
------------ |
------------ |
------------ |
|
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------------ |
------------ |
------------ |
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NOTES TO THE FINANCIAL STATEMENTS (continued) |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
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Not later than 1 year |
|
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– |
– |
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Later than 1 year and not later than 5 years |
|
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– |
– |
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Later than 5 years |
|
– |
– |
– |
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------------ |
------------ |
------------ |
------------ |
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– |
– |
|
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------------ |
------------ |
------------ |
------------ |
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