The company has adopted FRS102 1A for the first time.
The taxation accounting policy has changed to incude deferred tax. The policy is outlined in detail under accounting olicies. There have been no other changes to accuonting policy as a result of adopting FRS102 1A for the first time.
The reconciliation of equity is as follows:
At 1 January 2023:
No change to equity because no deferred tax existed at 1 January 2023
At 31 December 2023:
Equity per 2023 accounts 42,232
Deferred tax adjustment for year (11,324)
Equity as re-stated, under FRS102 1A 30,908
Profit and loss account reconciliation:
Profit per 2023 accounts 49,886
Deferred tax adjustment for the year (11,324)
Re-stated profit under FRS102 1A 38,562