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Financial Statements
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Contents
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Page
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Strategic report
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1
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Director's report
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3
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Independent auditor's report to the members
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5
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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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Statement of cash flows
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12
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Notes to the financial statements
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13
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Strategic Report
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2021 | 2020 | ||
£ | £ | ||
Turnover | 19,398,393 | 20,391,692 | |
Gross profit | 5,550,156 | 5,158,131 | |
GP% | 29 | 25 | |
Net profit before tax | 962,165 | 1,148,635 | |
NP% | 5 | 6 | |
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Director
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Registered office:
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Director's 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 Certified Accountants & statutory auditor
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Britannic House
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279 Chanterlands Avenue
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Hull
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HU5 4DS
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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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£
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£
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Turnover
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4
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Cost of sales
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-------------
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-------------
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Gross profit
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Distribution costs
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Administrative expenses
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Other operating income
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5
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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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10
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Interest payable and similar expenses
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11
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Profit before taxation
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Tax on profit
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12
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(
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------------
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------------
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Profit for the financial year
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------------
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------------
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Profit/(Loss) on value of derivative contracts
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(
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–
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Tax on value of derivative contracts
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–
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--------
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----
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Other 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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Total comprehensive income for the year
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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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£
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£
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£
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£
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Tangible assets
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14
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Stocks
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15
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Debtors
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16
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Cash at bank and in hand
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Creditors: amounts falling due within one year
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17
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Net current assets
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------------
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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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18
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Taxation including deferred tax
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20
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------------
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Net assets
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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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Shareholders funds
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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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£
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£
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£
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At 1 November 2019
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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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13
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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 October 2020
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Profit for the year
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Other comprehensive income for the year:
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|||||
Profit/(Loss) on value of derivative contracts
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–
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(
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(
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Tax on value of derivative contracts
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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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13
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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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----
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At 31 October 2021
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----
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Statement of Cash Flows
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2021
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2020
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£
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£
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Profit for the financial year
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Adjustments for:
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Depreciation of tangible assets
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Government grant income
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(
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(
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Other interest receivable and similar income
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(
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(
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Interest payable and similar expenses
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Loss/(gains) on disposal of tangible assets
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(
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Tax on profit
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(
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Changes in:
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Stocks
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(
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Trade and other debtors
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(
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(
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Trade and other creditors
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(
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------------
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------------
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Cash generated from operations
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(
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Interest paid
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(
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(
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Interest received
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Tax (paid)/received
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(
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------------
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---------
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Net cash from/(used in) operating activities
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(
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------------
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---------
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Purchase of tangible assets
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(
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(
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Proceeds from sale of tangible assets
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Profits/(losses) on market value of future contracts
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(
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–
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------------
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---------
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Net cash used in investing activities
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(
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(
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------------
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---------
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Proceeds from borrowings
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Repayments of borrowings
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(
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(
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Government grant income
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Payments of finance lease liabilities
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(
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(
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Dividends paid
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(
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(
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------------
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---------
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Net cash (used in)/from financing activities
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(
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------------
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Net decrease in cash and cash equivalents
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(
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(
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Cash and cash equivalents at beginning of year
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393,355
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969,775
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Cash and cash equivalents at end of year
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---------
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Notes to the Financial Statements
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Freehold property
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-
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Long leasehold property
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-
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Plant and machinery
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-
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Fixtures and fittings
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-
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Motor vehicles
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-
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2021
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2020
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£
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£
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Sale of goods UK
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Sale of goods outside if UK
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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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£
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£
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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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£
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£
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Depreciation of tangible assets
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495,064
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Loss/(gains) on disposal of tangible assets
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(
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Impairment of trade debtors
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(1,377)
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–
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Foreign exchange differences
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---------
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---------
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2021
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2020
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£
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£
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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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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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Management staff
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5
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5
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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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£
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£
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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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£
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£
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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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£
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£
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Interest on bank deposits
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--------
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--------
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2021
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2020
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£
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£
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Interest on banks loans and overdrafts
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--------
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--------
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2021
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2020
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£
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£
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UK current tax (income)/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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---------
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Origination and reversal of timing differences
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(
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(
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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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---------
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2021
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2020
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£
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£
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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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|
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Effect of capital allowances and depreciation
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(
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Effect of revenue exempt from tax
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–
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(
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Deferred tax charge
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(
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(
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Effects of research and development costs
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(
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–
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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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------------
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2021
|
2020
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£
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£
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Dividends on equity shares
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---------
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---------
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Land and buildings
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Plant and machinery
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Fixtures and fittings
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Motor vehicles
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Assets under construction
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Total
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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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Cost
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||||||
At 1 Nov 2020
|
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–
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Additions
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–
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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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---------
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---------
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------------
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At 31 Oct 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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Depreciation
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||||||
At 1 Nov 2020
|
|
|
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–
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Charge for the year
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–
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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 Oct 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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------------
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Carrying amount
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||||||
At 31 Oct 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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At 31 Oct 2020
|
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|
–
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3,219,930
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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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|
Finished goods and goods for resale
|
|
|
------------
|
------------
|
|
2021
|
2020
|
|
£
|
£
|
|
Trade debtors
|
|
|
Amounts owed by undertakings in which the company has a participating interest
|
|
–
|
Prepayments and accrued income
|
|
|
Corporation tax repayable
|
|
–
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VAT
|
|
|
Other debtors
|
|
|
------------
|
------------
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|
|
|
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------------
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------------
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2021
|
2020
|
|
£
|
£
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Bank loans and overdrafts
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|
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Trade creditors
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|
|
Amounts owed to undertakings in which the company has a participating interest
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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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|
|
Obligations under finance leases and hire purchase contracts
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|
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Other creditors
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|
|
Factoring account
|
|
|
------------
|
------------
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|
------------
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------------
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2021
|
2020
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
|
Obligations under finance leases and hire purchase contracts
|
|
|
Derivative financial liability
|
|
–
|
------------
|
---------
|
|
|
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------------
|
---------
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|
2021
|
2020
|
|
£
|
£
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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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Deferred tax (note 21)
|
|
£
|
|
At 1 November 2020
|
|
Charge against provision
|
(
|
---------
|
|
At 31 October 2021
|
|
---------
|
|
2021
|
2020
|
|
£
|
£
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|
Included in provisions (note 20)
|
|
|
---------
|
---------
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2021
|
2020
|
|
£
|
£
|
|
Government grants recognised directly in income
|
|
|
--------
|
-------
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|
2021
|
2020
|
|
£
|
£
|
|
Financial assets measured at fair value through profit or loss
|
9,743
|
–
|
-------
|
----
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|
2021
|
2020
|
|||
No.
|
£
|
No.
|
£
|
|
|
|
80
|
|
80
|
----
|
----
|
----
|
----
|
|
At 1 Nov 2020
|
Cash flows
|
At 31 Oct 2021
|
|
£
|
£
|
£
|
|
Cash at bank and in hand
|
|
(236,804)
|
|
Debt due within one year
|
(238,498)
|
(115,015)
|
(353,513)
|
Debt due after one year
|
(987,873)
|
(66,026)
|
(1,053,899)
|
---------
|
---------
|
------------
|
|
(
|
(
|
(
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---------
|
---------
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------------
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