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REGISTERED NUMBER:
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HOBSONS BREWERY AND COMPANY LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2019 |
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REGISTERED NUMBER:
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HOBSONS BREWERY AND COMPANY LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2019 |
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HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Contents of the Financial Statements |
for the year ended 30 April 2019 |
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Page |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 | to | 4 |
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Notes to the Financial Statements | 5 | to | 10 |
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HOBSONS BREWERY AND COMPANY LIMITED |
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Company Information |
for the year ended 30 April 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Suite 1A |
Shire Business Park |
Wainwright Road |
Worcester |
WR4 9FA |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Hobsons Brewery and Company 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 Balance Sheet. Readers are cautioned that the Income Statement 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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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Hobsons Brewery and Company Limited for the year ended 30 April 2019 which comprise the |
Income Statement, Balance Sheet and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Hobsons Brewery and Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hobsons Brewery and Company Limited and state those matters that we have agreed to state to the Board of Directors of Hobsons Brewery and Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hobsons Brewery and Company Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Hobsons Brewery and Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hobsons Brewery and Company Limited. You consider that Hobsons Brewery and Company Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Hobsons Brewery and Company 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 financial statements. |
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Chartered Accountants |
Suite 1A |
Shire Business Park |
Wainwright Road |
Worcester |
WR4 9FA |
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HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Balance Sheet |
30 April 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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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 |
9 |
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PROVISIONS FOR LIABILITIES | 11 | ( |
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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Balance Sheet - continued |
30 April 2019 |
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2019 | 2018 |
Notes | £ | £ |
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: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Notes to the Financial Statements |
for the year ended 30 April 2019 |
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1. | STATUTORY INFORMATION |
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Hobsons Brewery and Company Limited is a
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Wales. The company's 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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 or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet 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 |
balance sheet 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. |
HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Government grants |
Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is |
incurred. |
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Grants towards capital expenditure are shown as deferred income and amortised over the estimated useful life |
of the assets to which the grant relates. |
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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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HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2018 |
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Additions |
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Disposals |
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At 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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Included under plant and machinery are assets leased to third parties under an operating lease at a cost of |
£353,526 (2018 : £353,526) less accumulated depreciation of £155,706 (2018 : £125,935). |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 May 2018 |
and 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 May 2018 |
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Additions |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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6. | STOCKS |
2019 | 2018 |
£ | £ |
Stock |
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7. | DEBTORS |
2019 | 2018 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Bad debt provision | (12,708 | ) | (21,644 | ) |
Directors' current accounts | 6,780 | 16,185 |
Tax |
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Accrued Income |
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Prepayments |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 10) |
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Trade creditors |
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Corporation tax payable |
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Social security and other taxes |
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VAT | 71,977 | 78,492 |
Other creditors |
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Pension creditor | 2,943 | 2,335 |
Accruals |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts (see note 10) |
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10. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2019 | 2018 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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11. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 96,880 | 116,529 |
HOBSONS BREWERY AND COMPANY LIMITED (REGISTERED NUMBER: 03330811) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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11. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 May 2018 |
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Credit to Income Statement during year | ( |
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Accelerated capital allowances |
Balance at 30 April 2019 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 April 2019 and |
30 April 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The overdrawn loan accounts were cleared after the year end by an additional dividend declared. |