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For the year ended |
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Financial Statements |
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Contents |
Page |
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Officers and professional advisers |
1 |
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Strategic report |
2 |
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Directors' report |
5 |
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Independent auditor's report to the members |
7 |
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Statement of income and retained earnings |
12 |
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Statement of financial position |
13 |
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Statement of cash flows |
15 |
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Notes to the financial statements |
16 |
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Officers and Professional Advisers |
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The board of directors |
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Company secretary |
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Registered office |
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Auditor |
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Chartered accountants & statutory auditor |
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132 Burnt Ash Road |
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Lee |
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London |
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SE12 8PU |
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Bankers |
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87 High Street |
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Sidcup |
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Kent |
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DA14 6DL |
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Strategic Report |
| 2024 | 2023 | ||
| £ | £ | ||
| PERFORMANCE | |||
| Gross profit margin % | 7 | 5 | |
| Operating margin % | 3 | 1 | |
| Net profit margin % | 1 | – | |
| Net asset turnover | 20 | 24 | |
| 2024 | 2023 | ||
| £ | £ | ||
| LIQUIDITY | |||
| Current ratio | 2 | 2 | |
| Quick ratio | 1 | 1 | |
| 2024 | 2023 | ||
| £ | £ | ||
| SOLVENCY | |||
| Net gearing % | 80 | 56 | |
| Gross gearing % | 92 | 88 | |
| Asset cover ratio | 2 | 2 | |
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Director |
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Directors' Report |
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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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132 Burnt Ash Road |
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Lee |
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London |
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SE12 8PU |
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Statement of Income and Retained Earnings |
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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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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/(loss) for the financial year and total comprehensive income |
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(
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Dividends paid and payable |
12 |
(
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(
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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Statement of Financial Position |
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2024 |
2023 |
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Note |
£ |
£ |
£ |
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Tangible assets |
13 |
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Investments |
14 |
– |
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Stock |
15 |
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Debtors |
16 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
17 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
18 |
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Taxation including deferred tax |
20 |
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Net assets |
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Called up share capital |
23 |
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Profit and loss account |
24 |
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Shareholders funds |
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Statement of Financial Position (continued) |
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Director |
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Statement of Cash Flows |
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2024 |
2023 |
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£ |
£ |
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Profit/(loss) for the financial year |
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(
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Adjustments for: |
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Depreciation of tangible assets |
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Interest payable and similar expenses |
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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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Accrued expenses/(income) |
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(
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Changes in: |
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Stock |
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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 paid |
(
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(
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Tax paid |
(
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(
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Net cash from operating activities |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
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Proceeds from sale of subsidiaries |
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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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Proceeds from borrowings |
(
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Payments of finance lease liabilities |
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(
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Dividends paid |
(
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(
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Net cash used in financing activities |
(
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(
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
466,505 |
184,202 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
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Plant and machinery |
- |
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Office equipment |
- |
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Fixtures and fittings |
- |
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2024 |
2023 |
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£ |
£ |
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Sales of cars and associated income |
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-------------- |
-------------- |
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2024 |
2023 |
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£ |
£ |
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Rental income |
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Commission receivable |
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---------- |
---------- |
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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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Gains on disposal of tangible assets |
(
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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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Administrative staff |
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Management staff |
3 |
3 |
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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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--------- |
--------- |
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2024 |
2023 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Interest on obligations under finance leases and hire purchase contracts |
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---------- |
---------- |
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---------- |
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2024 |
2023 |
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£ |
£ |
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UK current tax expense |
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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 capital allowances and depreciation |
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(
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Movement in deferred tax provision |
(
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Other tax adjustment to increase/(decrease) tax liability |
– |
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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 on equity shares |
– |
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---- |
---------- |
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Plant and machinery |
Office equipment |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2024 |
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233,807
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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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233,807
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Depreciation |
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At 1 January 2024 |
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181,194
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Charge for the year |
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13,153
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Disposals |
(
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– |
– |
(
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At 31 December 2024 |
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194,347
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Carrying amount |
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At 31 December 2024 |
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39,460
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At 31 December 2023 |
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52,613
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Shares in group undertakings |
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£ |
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Cost |
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At 1 January 2024 |
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Disposals |
(
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---- |
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At 31 December 2024 |
– |
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Impairment |
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At 1 January 2024 and 31 December 2024 |
– |
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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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2024 |
2023 |
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£ |
£ |
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Finished goods and goods for resale |
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------------- |
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors - Woollett Hall |
117 |
– |
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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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Bank loans and overdrafts |
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– |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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– |
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Other creditors - DVB |
10,455 |
– |
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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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Bank loans and overdrafts |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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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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– |
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---------- |
--------- |
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---------- |
--------- |
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Deferred tax (note 21) |
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£ |
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At 1 January 2024 |
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Additions |
(
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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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Provisions |
(
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--------- |
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48,034 |
54,417 |
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--------- |
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
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------- |
------- |
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At 1 Jan 2024 |
Cash flows |
At 31 Dec 2024 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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(300,222) |
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Debt due within one year |
– |
(39,691) |
(39,691) |
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Debt due after one year |
(1,283,225) |
37,562 |
(1,245,663) |
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(
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(
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(
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2024 |
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Balance brought forward |
Advances/ (credits) to the directors |
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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(
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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 |
Advances/ (credits) to the directors |
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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(
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------------- |
---------- |
---------- |
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(
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(
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(
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------------- |
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Notes to the Financial Statements (continued) |
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Transaction value |
Balance owed by/(owed to) |
|||
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2024 |
2023 |
2024 |
2023 |
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£ |
£ |
£ |
£ |
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Beck Evans Holdings Limited |
149,255 |
150,000 |
1,859,719 |
1,555,927 |
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Beck Evans Farm Limited |
– |
– |
17,105 |
24,642 |
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Crazy Club Limited |
253 |
– |
39,656 |
40,809 |
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DVB T/A Beck Evans Automotive Limited |
324,045 |
321,592 |
(
33,992) |
(
66,253) |
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