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Financial Statements
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Contents
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Pages
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Officers and professional advisers
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1
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Strategic report
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2
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Directors' report
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3 to 4
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Independent auditor's report to the members
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5 to 8
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Statement of comprehensive income
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9
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Statement of financial position
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10
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Statement of changes in equity
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11
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Notes to the financial statements
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12 to 22
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Officers and Professional Advisers
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The board of directors
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Registered office
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Auditor
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Chartered accountants & statutory auditor
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3B Swallowfield Courtyard
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Wolverhampton Road
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Oldbury
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West Midlands
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B69 2JG
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Bankers
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Market Place
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Willenhall
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West Midlands
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WV13 2AF
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Solicitors
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3 Waterfront Business Park
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Brierley Hill
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West Midlands
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DY5 1LX
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Strategic Report
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Director
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Registered office:
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Directors' Report
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Director
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Registered office:
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor)
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For and on behalf of
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Chartered accountants & statutory auditor
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3B Swallowfield Courtyard
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Wolverhampton Road
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Oldbury
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West Midlands
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B69 2JG
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Statement of Comprehensive Income
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2021
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2020
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Note
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£000
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£000
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Turnover
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4
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Other operating income
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5
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--------
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--------
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12,768
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10,523
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Raw material and consumables
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Change in stocks of finished goods and in work in progress
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(
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Staff costs
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8
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Depreciation and other amounts written off tangible and intangible fixed assets
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Other operating expenses
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--------
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--------
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Operating profit
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6
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Other interest receivable and similar income
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11
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Interest payable and similar expenses
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12
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–
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--------
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--------
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Profit before taxation
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Tax on profit
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13
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----
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-------
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Profit for the financial year and total comprehensive income
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----
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-------
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Statement of Financial Position
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2021
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2020
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Note
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£000
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£000
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£000
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Tangible assets
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16
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Investments
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17
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-------
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-------
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Stocks
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18
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Debtors
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19
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Cash at bank and in hand
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-------
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-------
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Creditors: amounts falling due within one year
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20
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-------
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-------
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Net current assets
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-------
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-------
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Total assets less current liabilities
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Taxation including deferred tax
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21
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Other provisions
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21
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----
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----
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181
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183
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-------
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-------
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Net assets
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-------
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-------
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Called up share capital
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25
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Profit and loss account
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26
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-------
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-------
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Shareholders funds
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-------
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-------
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Director
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Statement of Changes in Equity
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Called up share capital
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Profit and loss account
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Total
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£000
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£000
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£000
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At 1 January 2020
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Profit for the year
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----
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-------
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-------
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Total comprehensive income for the year
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–
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Dividends paid and payable
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14
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–
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(
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(
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----
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-------
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-------
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Total investments by and distributions to owners
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–
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(
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(
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At 31 December 2020
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Profit for the year
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----
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-------
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-------
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Total comprehensive income for the year
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–
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----
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-------
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-------
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At 31 December 2021
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----
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Notes to the Financial Statements
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Intellectual Property
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-
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2 years
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Freehold Property
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-
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2.50% straight line
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Plant & Machinery
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-
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7.5% - 25% straight line
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2021
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2020
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£000
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£000
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Sale of goods
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--------
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--------
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2021
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2020
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£000
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£000
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United Kingdom
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Overseas
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--------
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--------
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--------
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--------
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2021
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2020
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£000
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£000
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Government grant income
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----
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----
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2021
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2020
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£000
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£000
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Loss on disposal of tangible assets
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–
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Research and development expenditure written off
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Auditors fee
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15
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12
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Accountancy services
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1
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1
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Tax advisory services
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3
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3
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Operating lease rentals
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36
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33
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----
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----
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2021
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2020
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£000
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£000
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Fees payable for the audit of the financial statements
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----
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----
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Taxation advisory services
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Other non-audit services
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----
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----
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4
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4
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----
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----
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2021
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2020
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No.
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No.
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Production staff
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Administrative staff
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----
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----
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76
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----
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----
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2021
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2020
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£000
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£000
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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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-------
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-------
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-------
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-------
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2021
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2020
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£000
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£000
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Remuneration
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Company contributions to defined contribution pension plans
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----
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----
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----
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----
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2021
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2020
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No.
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No.
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Defined contribution plans
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----
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----
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2021
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2020
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£000
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£000
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Aggregate remuneration
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Company contributions to defined contribution pension plans
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----
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----
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----
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----
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2021
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2020
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£000
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£000
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Interest on cash and cash equivalents
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----
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----
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2021
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2020
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£000
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£000
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Interest on banks loans and overdrafts
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–
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----
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----
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2021
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2020
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£000
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£000
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UK current tax expense
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Adjustments in respect of prior periods
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–
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(
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----
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----
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Total current tax
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----
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----
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Origination and reversal of timing differences
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----
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----
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Tax on profit
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----
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----
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2021
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2020
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£000
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£000
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Profit on ordinary activities before taxation
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----
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-------
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Profit on ordinary activities by rate of tax
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Effect of expenses not deductible for tax purposes
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Effect of capital allowances and depreciation
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(
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–
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Rounding on tax charge
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–
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(
4)
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Research and development relief
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(6)
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(13)
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Deferred tax not provided
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–
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9
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----
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-------
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Tax on profit
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----
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-------
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2021
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2020
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£000
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£000
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
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–
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Dividends proposed before the year end and recognised as a liability
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–
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85
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----
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-------
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Intellectual property
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£000
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Cost
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At 1 January 2021 and 31 December 2021
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----
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Amortisation
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At 1 January 2021 and 31 December 2021
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----
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Carrying amount
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At 31 December 2021
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–
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----
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At 31 December 2020
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–
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----
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Freehold property
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Plant and machinery
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Total
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£000
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£000
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£000
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Cost
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At 1 January 2021
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Additions
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Disposals
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(
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(
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(
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-------
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-------
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-------
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At 31 December 2021
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-------
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-------
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-------
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Depreciation
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|||
At 1 January 2021
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Charge for the year
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Disposals
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(
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(
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(
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-------
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-------
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-------
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At 31 December 2021
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-------
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-------
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-------
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Carrying amount
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|||
At 31 December 2021
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-------
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-------
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-------
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At 31 December 2020
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-------
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-------
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-------
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Shares in group undertakings
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Shares in participating interests
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Total
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£000
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£000
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£000
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Cost
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|||
At 1 January 2021
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–
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Additions
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–
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-------
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----
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-------
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At 31 December 2021
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-------
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----
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-------
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Impairment
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|||
At 1 January 2021 and 31 December 2021
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–
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–
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–
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-------
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----
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-------
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Carrying amount
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|||
At 31 December 2021
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|
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-------
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----
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-------
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At 31 December 2020
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–
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-------
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----
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-------
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2021
|
2020
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£000
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£000
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Raw materials and consumables
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Finished goods and goods for resale
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|
|
-------
|
-------
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-------
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-------
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2021
|
2020
|
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£000
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£000
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Trade debtors
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Amounts owed by group undertakings
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Prepayments and accrued income
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Other debtors
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–
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-------
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-------
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|
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-------
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-------
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2021
|
2020
|
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£000
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£000
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Trade creditors
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|
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Amounts owed to group undertakings
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|
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Accruals and deferred income
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Corporation tax
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Social security and other taxes
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|
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Dividends payable
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–
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Other creditors
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|
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-------
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-------
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-------
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-------
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Warranties
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Deferred tax (note 22)
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Total
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£000
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£000
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£000
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At 1 January 2021
|
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Additions
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–
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Charge against provision
|
(
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–
|
(
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----
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----
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----
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At 31 December 2021
|
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|
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----
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----
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----
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2021
|
2020
|
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£000
|
£000
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Included in provisions (note 21)
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----
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----
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2021
|
2020
|
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£000
|
£000
|
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Accelerated capital allowances
|
|
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Provisions
|
(
|
(
|
----
|
----
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|
78
|
73
|
|
----
|
----
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|
2021
|
2020
|
|
£000
|
£000
|
|
Government grants recognised directly in income
|
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----
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----
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2021
|
2020
|
|||
No.
|
£
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No.
|
£
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180,000
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180,000
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---------
|
---------
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---------
|
---------
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2021
|
2020
|
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£000
|
£000
|
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Not later than 1 year
|
|
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Later than 1 year and not later than 5 years
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----
|
----
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----
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----
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