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FINANCIAL STATEMENTS |
CONTENTS |
PAGES |
Officers and professional advisers |
1 |
Strategic report |
2 |
Director's report |
3 to 4 |
Independent auditor's report to the members |
5 to 8 |
Profit and loss account |
9 |
Balance sheet |
10 |
Statement of changes in equity |
11 |
Statement of cash flows |
12 |
Notes to the financial statements |
13 to 21 |
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OFFICERS AND PROFESSIONAL ADVISERS |
Director |
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Registered office |
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Auditor |
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Chartered Accountants & statutory auditor |
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Cedar House |
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Hazell Drive |
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Newport |
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NP10 8FY |
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STRATEGIC REPORT |
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Director |
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DIRECTOR'S REPORT |
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Director |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Accountants & statutory auditor |
Cedar House |
Hazell Drive |
Newport |
NP10 8FY |
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PROFIT AND LOSS ACCOUNT |
2023 |
2022 |
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Note |
£ |
£ |
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TURNOVER |
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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– |
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Administrative expenses |
(
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(
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------------ |
------------ |
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OPERATING PROFIT |
5 |
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Income from other fixed asset investments |
9 |
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(
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------------ |
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PROFIT BEFORE TAXATION |
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Tax on profit |
10 |
(
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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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BALANCE SHEET |
2023 |
2022 |
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Note |
£ |
£ |
Tangible assets |
12 |
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Stocks |
13 |
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Debtors |
14 |
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Investments |
15 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
16 |
(
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(
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NET CURRENT ASSETS |
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------------ |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS |
17 |
(
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(
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------------ |
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NET ASSETS |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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SHAREHOLDERS FUNDS |
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------------ |
------------ |
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Director |
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STATEMENT OF CHANGES IN EQUITY |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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AT 1 SEPTEMBER 2021 |
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Profit for the year |
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-------- |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
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Issue of shares |
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– |
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Dividends paid and payable |
11 |
– |
(
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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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AT 31 AUGUST 2022 |
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Profit for the year |
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-------- |
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TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
– |
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Dividends paid and payable |
11 |
– |
(
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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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AT 31 AUGUST 2023 |
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-------- |
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STATEMENT OF CASH FLOWS |
2023 |
2022 |
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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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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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Accrued income |
(
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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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Trade and other creditors |
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------------ |
------------ |
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Cash generated from operations |
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Tax (paid)/received |
(
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------------ |
--------- |
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Net cash from operating activities |
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------------ |
--------- |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
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Purchases of other investments |
(499,749) |
(670,242) |
------------ |
------------ |
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Net cash used in investing activities |
(
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(
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------------ |
------------ |
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Proceeds from issue of ordinary shares |
– |
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Dividends paid |
(
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(
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------------ |
------------ |
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Net cash used in financing activities |
(
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(
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------------ |
------------ |
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NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
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(
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CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
2,122,760 |
2,954,083 |
------------ |
------------ |
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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 |
Plant and machinery |
- |
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Motor vehicles |
- |
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Equipment |
- |
33
% reducing balance |
|
2023 |
2022 |
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£ |
£ |
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Sale of goods |
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------------- |
------------- |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
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Gains on disposal of tangible assets |
(
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(
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--------- |
--------- |
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2023 |
2022 |
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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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2023 |
2022 |
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No. |
No. |
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Production staff |
|
|
---- |
---- |
|
2023 |
2022 |
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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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2023 |
2022 |
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£ |
£ |
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Remuneration |
|
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------- |
------- |
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2023 |
2022 |
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£ |
£ |
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Dividends from other fixed asset investments |
6,265 |
3,623 |
Gain/(loss) on fair value adjustment to other fixed asset investments |
3,168 |
(76,845) |
Other income from other fixed asset investments |
2,294 |
– |
-------- |
-------- |
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(
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-------- |
-------- |
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2023 |
2022 |
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£ |
£ |
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UK current tax expense |
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Origination and reversal of timing differences |
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--------- |
--------- |
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Tax on profit |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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------------ |
------------ |
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Profit on ordinary activities by rate of tax |
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Adjustment to tax charge in respect of prior periods |
|
– |
Effect of expenses not deductible for tax purposes |
(
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(
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Effect of capital allowances and depreciation |
|
– |
Effect of different UK tax rates on some earnings |
(135,366) |
– |
------------ |
------------ |
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Tax on profit |
|
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------------ |
------------ |
|
2023 |
2022 |
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£ |
£ |
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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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Plant and machinery |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
||||
At 1 September 2022 |
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23,345 |
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Additions |
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6,658 |
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Disposals |
– |
(
|
– |
(
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--------- |
------------ |
-------- |
------------ |
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At 31 August 2023 |
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|
30,003 |
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--------- |
------------ |
-------- |
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Depreciation |
||||
At 1 September 2022 |
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|
18,348 |
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Charge for the year |
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|
3,845 |
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Disposals |
– |
(
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– |
(
|
--------- |
------------ |
-------- |
------------ |
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At 31 August 2023 |
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22,193 |
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--------- |
------------ |
-------- |
------------ |
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Carrying amount |
||||
At 31 August 2023 |
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7,810 |
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--------- |
------------ |
-------- |
------------ |
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At 31 August 2022 |
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4,997 |
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--------- |
------------ |
-------- |
------------ |
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2023 |
2022 |
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£ |
£ |
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Stock |
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|
--------- |
--------- |
|
2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
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Director's loan account |
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Other debtors |
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------------ |
------------ |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Other investments |
1,169,991 |
670,242 |
------------ |
--------- |
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2023 |
2022 |
|
£ |
£ |
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Trade creditors |
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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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Other creditors |
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------------ |
------------ |
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------------ |
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Deferred tax (note 18) |
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£ |
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At 1 September 2022 |
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Additions |
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--------- |
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At 31 August 2023 |
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--------- |
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note 17) |
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--------- |
--------- |
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2023 |
2022 |
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£ |
£ |
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Accelerated capital allowances |
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--------- |
--------- |
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
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4,999 |
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4,999 |
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|
3,999 |
|
3,999 |
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|
1,000 |
|
1,000 |
|
|
102 |
|
102 |
-------- |
-------- |
-------- |
-------- |
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-------- |
-------- |
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At 1 Sep 2022 |
Cash flows |
At 31 Aug 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
4,427,054 |
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Current asset investments |
|
499,749 |
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------------ |
------------ |
------------ |
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------------ |
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NOTES TO THE FINANCIAL STATEMENTS (continued) |