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Financial Statements for the Year Ended 30 April 2017 |
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C H SAUSAGE CO LIMITED |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 April 2017 |
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for |
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C H SAUSAGE CO LIMITED |
C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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C H SAUSAGE CO LIMITED |
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Company Information |
for the Year Ended 30 April 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANT: |
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10 Market Street |
Chapel-en-le-Frith |
High Peak |
Derbyshire |
SK23 0HH |
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BANKERS: |
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19 - 21 Spring Gardens |
Manchester |
M2 1FB |
C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Balance Sheet |
30 April 2017 |
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30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | 12 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 13 |
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Retained earnings | 14 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Balance Sheet - continued |
30 April 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
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1. | STATUTORY INFORMATION |
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C H Sausage Co Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The principal accounting policies adopted in the preparation of the financial statements are set out below. |
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The financial statements for the year ended 30 April 2017 are the first financial statements that comply with the |
provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102. The date of transition is 1 |
May 2015. |
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The transition to Financial Reporting Standard 102 Section 1A "Small Entities" has resulted in a small number of |
changes in accounting policies to those used previously. |
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The financial statements have been prepared under the historic cost convention. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Building improvements | - |
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Plant & equipment | - |
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Fixtures & fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Raw materials - purchase cost on first in, first out basis. |
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Packaging materials - purchase cost on first in, first out basis. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
substantively enacted by the balance sheet date. |
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C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Building | Plant & | Fixtures |
improvements | equipment | & fittings |
£ | £ | £ |
COST |
At 1 May 2016 |
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Additions |
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Disposals |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
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Additions |
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Disposals | ( |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
Additions |
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At 30 April 2017 |
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DEPRECIATION |
Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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6. | STOCKS |
30.4.17 | 30.4.16 |
£ | £ |
Stocks |
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C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Trade debtors |
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Directors' current accounts | 12,403 | - |
VAT |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Bank loans and overdrafts (see note 10) |
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Trade creditors |
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Social security & other taxes |
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Other creditors |
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Directors' current accounts | - | 1,315 |
Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Bank loans (see note 10) |
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Hire purchase contracts |
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10. | LOANS |
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An analysis of the maturity of loans is given below: |
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30.4.17 | 30.4.16 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loan |
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Amounts falling due between two and five years: |
Bank loan |
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C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.4.17 | 30.4.16 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | 16,415 | - |
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Bank of Scotland plc hold a Legal Charge over the deeds for land and property situated at 9 Cornwall Street, |
Manchester. In addition they also have a Personal Guarantee from the director C M Beaumont for the sum of up |
to £280,000. |
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12. | PROVISIONS FOR LIABILITIES |
30.4.17 | 30.4.16 |
£ | £ |
Deferred tax | 4,961 | 12,186 |
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Deferred |
tax |
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Balance at 1 May 2016 |
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Credit to Income Statement during year | ( |
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Balance at 30 April 2017 |
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13. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.17 | 30.4.16 |
value: | £ | £ |
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Ordinary A | £1 | 10,000 | 10,000 |
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Redeemable Preference B | £1 | 25,000 | 25,000 |
35,000 | 35,000 |
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The redeemable preference shares are non-voting and carry none of the rights attributable to ordinary share |
capital. However, they do confer rights to a preferential dividend if and so far as in the opinion of the directors |
the profits of the company justify such payment. Payment of such dividends shall be determined by and at the |
discretion of the directors. |
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The company may subject to the provisions of the Companies Act 1985 and as amended by the Companies Act |
1989 at any time after 30 April 2008 redeem the whole or any part of the preference shares upon giving not less |
than 3 months notice. |
C H SAUSAGE CO LIMITED (REGISTERED NUMBER: 00908228) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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14. | RESERVES |
Retained |
earnings |
£ |
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At 1 May 2016 |
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Deficit for the year | ( |
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Dividends | ( |
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At 30 April 2017 |
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15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2017 and |
30 April 2016: |
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30.4.17 | 30.4.16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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16. | ULTIMATE CONTROLLING PARTY |
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The company was throughout the year under the control of C M Beaumont by virtue of her 100% holding in the |
issued ordinary share capital. C M Beaumont also holds all the issued redeemable preference shares. |