Registration number:
for the
Year Ended 31 December 2024
BAM Agency Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
BAM Agency Limited
Company Information
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Directors |
T C Bodenham Mrs L Bodenham |
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Registered office |
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Accountants |
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BAM Agency Limited
Directors' Report for the Year Ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors of the company
The directors who held office during the year were as follows:
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
Director
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of BAM Agency Limited
for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BAM Agency Limited for the year ended 31 December 2024, as set out on pages 4 to 12, from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of BAM Agency Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of BAM Agency Limited and state those matters that we have agreed to state to the Board of Directors of BAM Agency Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BAM Agency Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that BAM Agency Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BAM Agency Limited. You consider that BAM Agency Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of BAM Agency Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Bayshill Road
Cheltenham
GL50 3AT
BAM Agency Limited
Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
654,970 |
611,467 |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no other comprehensive income for the year.
BAM Agency Limited
(Registration number: 04068037)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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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 |
( |
( |
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Deferred tax liabilities |
(46,921) |
(46,294) |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
606,072 |
351,746 |
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Shareholders' funds |
606,172 |
351,846 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
Director
BAM Agency Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 December 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 December 2023 |
100 |
351,746 |
351,846 |
BAM Agency Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
BAM Agency Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold land and buildings |
nil |
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Leasehold improvements |
10% straight line |
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Fixtures and fittings |
25% reducing balance and 15% straight line |
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Plant and machinery |
20% straight line |
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Motor vehicles |
10% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
BAM Agency Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Impairment
Financial instruments
Classification
Recognition and measurement
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
BAM Agency Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost |
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At 1 January 2024 |
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Additions |
- |
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Disposals |
- |
- |
( |
( |
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At 31 December 2024 |
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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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Eliminated on disposal |
- |
- |
( |
( |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £362,252 (2023 - £362,252) in respect of freehold land and buildings and £37,487 (2023 - £44,468) in respect of short leasehold land and buildings.
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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- |
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BAM Agency Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Creditors |
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Included in loans and borrowings is £51,818 (£27,273 due within one year and £24,545 due over one year) which represents a Coronavirus Business Interuption Loan which is guaranteed by the UK Government.
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Loans and borrowings |
Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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BAM Agency Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Deferred tax |
Deferred tax assets and liabilities
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2024 |
Asset |
Liability |
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Accelerated tax depreciation |
- |
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Short term timing difference |
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- |
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2023 |
Asset |
Liability |
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Accelerated tax depreciation |
- |
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Short term timing difference |
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- |
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Financial commitments |
The total amount of financial commitments not included in the balance sheet is £9,692 £Nil (2023 - £
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Controlling party |
The company's immediate parent is
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Related party transactions |
At 31 December 2024, the directors owed £5,965 to the company (2023: £3,754 owed from the Company) in the form of a directors' loan account. The loan is unsecured, repayable on demand and no interest is payable.
BAM Agency Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2024
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2024 |
2023 |
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Turnover/revenue |
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Cost of sales |
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Purchase of raw materials and consumables |
( |
( |
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Wages and salaries |
( |
( |
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Gross profit |
1,272,435 |
1,080,009 |
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Administrative expenses |
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Audit and accountancy other services |
( |
( |
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Advertising, promotions and marketing costs |
( |
( |
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Client entertaining costs |
( |
( |
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Rent, rates and services costs |
( |
( |
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Operating lease expenditure |
( |
( |
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Other repairs and maintenance costs |
( |
( |
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Cleaning costs |
( |
( |
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Depreciation of property, plant and equipment |
( |
( |
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Vehicle costs |
( |
( |
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Wages and salaries |
( |
( |
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Pension costs defined contribution schemes excluding directors |
( |
( |
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Salaries and fees, directors |
( |
( |
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Company contributions to money purchase plans, directors |
( |
- |
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Staff costs, directors |
( |
( |
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Travel and subsistence |
( |
( |
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Training |
( |
( |
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Legal and professional costs |
( |
( |
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Bank charges |
|
( |
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Insurance costs |
( |
( |
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IT and computing |
( |
( |
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Telecommunications |
( |
( |
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Printing, postage and stationery |
( |
( |
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Subscriptions |
( |
( |
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Other foreign exchange loss |
( |
( |
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Other costs |
( |
( |
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Other items |
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Loss from disposal of property, plant and equipment |
( |
( |
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Profit on ordinary activities before finance charges and interest |
654,970 |
611,467 |
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Non-bank interest and similar charges |
( |
( |
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Interest expense on obligations under finance leases and hire purchase contracts |
- |
( |
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Profit on ordinary activities before taxation |
|
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Tax on profit or loss on ordinary activities |
( |
( |
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Profit for the financial year |
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