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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Transwaste Services Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Transwaste Services Limited |
Transwaste Services Limited (Registered number: 03727737) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Transwaste Services Limited |
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Company Information |
for the Year Ended 31 March 2017 |
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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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14a Waterside Business Park |
Livingstone Road |
Hessle |
East Yorkshire |
HU13 0EG |
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BANKERS: |
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Merit House |
Saxon Way |
Priory Park West |
Hessle |
East Yorkshire |
HU13 9PB |
Transwaste Services Limited (Registered number: 03727737) |
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Abridged Balance Sheet |
31 March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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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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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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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 |
(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. |
Transwaste Services Limited (Registered number: 03727737) |
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Abridged Balance Sheet - continued |
31 March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Transwaste Services Limited (Registered number: 03727737) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Transwaste Services Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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Revenue Recognition |
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company |
receives a right to consideration from its performance. |
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Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on |
their fair value of the right to consideration at the balance sheet date. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the |
recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where |
it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount |
of the cash-generating unit to which the asset belongs. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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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Transwaste Services Limited (Registered number: 03727737) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2016 |
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Additions |
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Disposals | ( |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Transwaste Services Limited (Registered number: 03727737) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST |
At 1 April 2016 | 1,487,328 |
Transfer to ownership | (274,200 | ) |
At 31 March 2017 | 1,213,128 |
DEPRECIATION |
At 1 April 2016 | 648,928 |
Charge for year | 331,336 |
Transfer to ownership | (274,200 | ) |
At 31 March 2017 | 706,064 |
NET BOOK VALUE |
At 31 March 2017 | 507,064 |
At 31 March 2016 | 838,400 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST OR VALUATION |
At 1 April 2016 | 71,796 |
Additions | 14,640 |
Revaluations | 13,726 |
At 31 March 2017 | 100,162 |
NET BOOK VALUE |
At 31 March 2017 | 100,162 |
At 31 March 2016 | 71,796 |
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Cost or valuation at 31 March 2017 is represented by: |
Totals |
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Valuation in 2013 | 2,185 |
Valuation in 2014 | (91 | ) |
Valuation in 2015 | 6,276 |
Valuation in 2016 | (1,234 | ) |
Valuation in 2017 | 13,726 |
Cost | 79,300 |
100,162 |
Transwaste Services Limited (Registered number: 03727737) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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5. | FIXED ASSET INVESTMENTS - continued |
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If Fixed asset investments had not been revalued it would have been included at the following historical cost: |
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31.3.17 | 31.3.16 |
£ | £ |
Cost | 35,381 | 35,381 |
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Fixed asset investments were valued on an open market basis on 31 March 2017 by Utmost Wealth Solutions . |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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7. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
31.3.17 | 31.3.16 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
31.3.17 | 31.3.16 |
£ | £ |
Within one year |
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Between one and five years |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.17 | 31.3.16 |
£ | £ |
Hire purchase contracts | 488,515 | 790,545 |
Transwaste Services Limited (Registered number: 03727737) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 March 2017 and |
31 March 2016: |
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31.3.17 | 31.3.16 |
£ | £ |
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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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These amounts are interest free and repayable on demand. |
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11. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £96,800 (2016 - £136,800) were paid to the directors . |
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Sales, on normal commercial terms, of £4,602,857 (2016 - £5,139,952) were made to
Limited at 31st March 2017. Transwaste Recycling and Aggregates Limited an amount of £ |
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Sales, on normal commercial terms, of £9,480 (2016 - £Nil) were made to Wauldby Associates Limited, a |
company of which Mr M Hornshaw and Mr P Hornshaw are also shareholder. |
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Thermeco Yorkshire Limited
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a company under common control
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12,500
at 31st March 2017 (2016 -
£12,500). |
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During the year recharges of £ Nil (2016 - £ Nil) were made to
P & M Hornshaw Properties
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a business of which Mr M Hornshaw and Mr P Hornshaw are both partners
. A balance of £
160,770
(2016 - £160,770) was due from
P & M Hornshaw Properties at 31st March 2017. |
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The company paid for legal fees in the sum of £ Nil on behalf of
Transwaste Haulage Limited
during the year. As
at 31st March 2017, the company owed Transwaste Haulage Limited £Nil (2016- £245,395). |
Transwaste Services Limited (Registered number: 03727737) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors. |
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13. | FIRST YEAR ADOPTION |
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On transition to FRS102 the company has taken advantage of the following transitional relief: |
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- Not to disclose the reconciliation of equity and profit and loss due to no subsequent changes. |