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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2018 |
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MOSSNOOK LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2018 |
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FOR |
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MOSSNOOK LIMITED |
MOSSNOOK LIMITED (REGISTERED NUMBER: 02826635) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2018 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Directors' Responsibilities Statement | 8 |
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Independent Chartered Accountants' Review Report | 9 |
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MOSSNOOK LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 October 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
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BANKERS: |
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40 Market Street |
Wigan |
Lancashire |
WN1 1JG |
MOSSNOOK LIMITED (REGISTERED NUMBER: 02826635) |
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STATEMENT OF FINANCIAL POSITION |
31 October 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MOSSNOOK LIMITED (REGISTERED NUMBER: 02826635) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 October 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
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MOSSNOOK LIMITED (REGISTERED NUMBER: 02826635) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2018 |
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1. | STATUTORY INFORMATION |
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Mossnook Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents income receivable from the operating of a bar and restaurant, excluding Value Added Tax. |
Sales of goods and services provided in the restaurant and bar are recognised at the point of sale. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, has been amortised |
evenly over its estimated useful life, of which four years remain. |
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Tangible fixed assets |
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Freehold 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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Tangible fixed assets are stated at cost less depreciation and impairment. |
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Impairment of assets |
At each reporting date assets are reviewed to determine whether there is any indication that those assets have |
suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, |
the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in the profit and loss. |
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Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised |
estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying |
amount that would have been determined (net of depreciation) had no impairment loss been recognised for the |
asset in prior years. A reversal of an impairment loss is recognised as income immediately. |
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Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. |
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Financial instruments |
Short term financial assets, including cash and bank balances, are measured at the transactions price. Financial |
assets that have no stated interest rate and recoverable within one year shall be measured at the undiscounted |
amount due. |
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Short term financial liabilities, including trade and other creditors, are measured at the transaction price. |
Financial liabilities that have no stated interest rate and payable within one year shall be measured at the |
undiscounted amount due. |
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The directors and shareholders loans have no stated interest rate, are repayable on demand and are measured at |
the undiscounted amount due. |
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MOSSNOOK LIMITED (REGISTERED NUMBER: 02826635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Leases |
Rentals payable under operating leases are charged to the profit or loss on a straight-line basis over the lease |
term. The aggregate benefit of lease incentive are recognised as a reduction to the expense recognised over the |
lease term on a straight line basis. |
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Short term employee benefits |
Short-term employee benefits are recognised as an expense in the period in which they are incurred. |
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The company operates a defined contribution pension scheme. Contributions payable for the year are charged in |
the income statement. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 November 2017 |
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Impairments | (40,000 | ) |
At 31 October 2018 |
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AMORTISATION |
At 1 November 2017 |
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Impairments | ( |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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MOSSNOOK LIMITED (REGISTERED NUMBER: 02826635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2018 |
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5. | TANGIBLE FIXED ASSETS |
Short | Fixtures |
Freehold | leasehold | Plant and | and |
property | property | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 November 2017 |
and 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
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Charge for year |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Shareholders loan (unsecured) | 82,526 | 22,526 |
Directors' current accounts | 38,657 | 43,478 |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
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MOSSNOOK LIMITED (REGISTERED NUMBER: 02826635) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2018 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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Bank loans |
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The bank overdraft and loan is secured by a debenture comprising a first legal charge over the freehold property |
of the company. |
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10. | FINANCIAL COMMITMENTS |
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The company had total operating lease commitments at the year end of £61,419 (2017 - £59,792). |
DIRECTORS' RESPONSIBILITIES STATEMENT |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MOSSNOOK LIMITED |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Statement of Financial Position. Readers are cautioned that the Statement of |
Comprehensive Income and certain other primary statements and the Report of the Directors are not required to |
be filed with the Registrar of Companies. |
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We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to: |
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- | ensure that the company has kept proper accounting records; |
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prepare financial statements which give a true and fair view of the state of affairs of the company as at
31 October 2018 and of its loss for that period in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and |
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follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to
the financial statements. |
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ON BEHALF OF THE BOARD: |
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4 June 2019 |
INDEPENDENT CHARTERED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTORS OF |
MOSSNOOK LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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We have reviewed the financial statements of Mossnook Limited for the year ended 31 October 2018, which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes 1 to 10. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed. |
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Directors' responsibility for the financial statements |
As explained more fully in the Directors' Responsibilities Statement set out on page eleven, the directors are responsible |
for the preparation of the financial statements and for being satisfied that they give a true and fair view. |
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Accountants' responsibility |
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review |
in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review |
historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on |
historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics. |
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Scope of the assurance review |
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have |
performed additional procedures to those required under a compilation engagement. These primarily consist of making |
enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the |
evidence obtained. The procedures performed in a review are substantially less than those performed in an audit |
conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an |
audit opinion on these financial statements. |
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Conclusion |
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared: |
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so as to give a true and fair view of the state of the company's affairs as at 31 October 2018 and of its loss for the year
then ended; |
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in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and |
- | in accordance with the requirements of the Companies Act 2006. |
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Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
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