Director
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30 June 2023
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Director
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for and on behalf of
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2022 | 2021 | |||
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Notes | £ | £ | ||
TURNOVER |
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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 |
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OPERATING PROFIT | 4 |
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Profit on disposal of fixed assets |
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Interest payable and similar charges | 9 |
( |
( |
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PROFIT BEFORE TAXATION |
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Tax on Profit | 10 |
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( |
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PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |
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2022 | 2021 | |||
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£ | £ | |||
PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
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2022 | 2021 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 11 |
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CURRENT ASSETS | |||||
Stocks | 12 |
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Debtors | 13 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 14 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 15 |
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( |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation | 18 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 20 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 1,389,372 | 1,149,065 | |||
Director
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Share Capital | Profit and Loss Account | Total | |
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£ | £ | £ | |
As at 1 October 2020 |
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975,583 |
Profit for the year and total comprehensive income | - |
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203,482 |
Dividends paid | - | (30,000) | (30,000) |
As at 30 September 2021 and 1 October 2021 |
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1,149,065 |
Profit for the year and total comprehensive income | - |
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340,307 |
Dividends paid | - | (100,000) | (100,000) |
As at
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1,389,372 |
2022 | 2021 | |||
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Notes | £ | £ | ||
Cash flows from operating activities | ||||
Net cash generated from operations | 1 |
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Interest paid |
( |
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Tax refunded |
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Net cash generated from operating activities |
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Cash flows from investing activities | ||||
Purchase of tangible assets |
( |
( |
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Proceeds from disposal of tangible assets |
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Net cash used in investing activities |
( |
( |
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Cash flows from financing activities | ||||
Equity dividends paid | (100,000) | (30,000) | ||
Repayment of bank borrowings | (58,751) | (64,303) | ||
Repayment of finance leases | 403,319 | (302,947) | ||
Net cash generated from/(used in) financing activities | 244,568 | (397,250) | ||
Increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of year | 2 | 30,901 | (140,962) | |
Cash and cash equivalents at end of year | 2 |
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2022 | 2021 | ||
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£ | £ | ||
Profit for the financial year |
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Adjustments for: | |||
Tax on profit | 35,742 | 244 | |
Interest expense | 63,924 | 44,597 | |
Depreciation of tangible assets | 120,599 | 92,117 | |
Loss on disposal of tangible assets | (2,803) | - | |
Movements in working capital: | |||
Increase in stocks | (69,449) | (160,376) | |
Increase in trade and other debtors | (371,217) | (487,555) | |
Increase in trade and other creditors | 275,989 | 1,255,522 | |
Net cash generated from operations |
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2022 | 2021 | ||
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£ | £ | ||
Cash at bank and in hand |
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Overdraft facilities repayable on demand |
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Cash and cash equivalents as stated in the Statement of Cash Flows | 407,558 | 30,901 | |
As at
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Cash flows | As at
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£ | £ | £ | |
Cash at bank and in hand |
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378,605 |
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Overdraft facilities repayable on demand | - | (1,948) | (1,948) |
Cash and cash equivalents |
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376,657 |
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Finance leases | (487,257) | (403,319) | (890,576) |
Debts falling due within one year |
( |
(9,436) |
( |
Debts falling due after more than one year | (71,546) | 68,187 | (3,359) |
(583,734) | 32,089 | (551,645) | |
Leasehold |
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Plant & Machinery |
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Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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2022 | 2021 | ||
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£ | £ | ||
Other operating income |
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9,724 | 10,724 | ||
2022 | 2021 | ||
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£ | £ | ||
Bad debts | 169,677 | 22,077 | |
Depreciation of tangible fixed assets |
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2022 | 2021 | ||
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£ | £ | ||
Audit Services | |||
Audit of the company's financial statements |
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2022 | 2021 | ||
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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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2022 | 2021 | ||
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£ | £ | ||
Emoluments |
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2022 | 2021 | ||
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£ | £ | ||
Emoluments |
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2022 | 2021 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Finance charges payable under finance leases | 73,986 | 45,491 | |
Foreign exchange charges |
( |
( |
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63,924 | 44,597 | ||
Tax Rate | 2022 | 2021 | |||
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2022 | 2021 | £ | £ | ||
Current tax | |||||
UK Corporation Tax | 19.0% | 19.0% |
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Prior period adjustment |
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Deferred Tax | |||||
Deferred taxation |
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Total tax charge for the period |
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2022 | 2021 | ||||
£ | £ | ||||
Profit before tax | 376,049 | 203,726 | |||
Breakdown of tax charge is: | |||||
Tax on profit at 19% (UK standard rate) |
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Goodwill/depreciation not allowed for tax |
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Expenses not deductible for tax purposes |
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Capital allowances |
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( |
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Short term timing differences |
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Prior period adjustment |
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Difference in tax rates |
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Total tax charge for the period | 35,742 | - | |||
Land & Property | ||||
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Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
£ | £ | £ | £ | |
Cost | ||||
As at
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Additions |
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Disposals |
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( |
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As at
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Depreciation | ||||
As at
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Provided during the period |
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Disposals |
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( |
( |
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As at
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Net Book Value | ||||
As at
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As at
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Computer Equipment | Total | |
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£ | £ | |
Cost | ||
As at
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Additions |
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Disposals |
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( |
As at
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Depreciation | ||
As at
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Provided during the period |
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Disposals |
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( |
As at
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Net Book Value | ||
As at
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As at
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2022 | 2021 | ||
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£ | £ | ||
Materials |
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2022 | 2021 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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VAT |
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- | |
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2022 | 2021 | ||
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£ | £ | ||
Net obligations under finance leases |
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Trade creditors |
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Bank loans and overdrafts |
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Other creditors | 292,056 | 179,535 | |
Corporation tax |
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( |
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Taxation and social security | 35,706 | 214,987 | |
Accruals and deferred income |
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2022 | 2021 | ||
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£ | £ | ||
Net obligations under finance leases |
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Bank loans |
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Other creditors | 215,088 | 340,000 | |
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2022 | 2021 | ||
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£ | £ | ||
Amounts falling due within one year or on demand: | |||
Bank loans |
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2022 | 2021 | ||
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£ | £ | ||
Amounts falling due between one and five years: | |||
Bank loans |
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2022 | 2021 | ||
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£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
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Later than one year and not later than five years |
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2022 | 2021 | ||
---|---|---|---|
£ | £ | ||
Other timing differences | 102,412 | 66,915 | |
Deferred Tax | Total | |
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£ | £ | |
As at
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66,915 |
Additions |
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35,497 |
Balance at
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102,412 |
2022 | 2021 | ||
---|---|---|---|
£ | £ | ||
On equity shares: | |||
Interim dividend paid |
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100,000 | 30,000 | ||