Imprint Signs and Graphics Ltd ACCOUNTS COVER
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Company No. 09734584
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Imprint Signs and Graphics Ltd CONTENTS
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Pages
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Company Information
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2
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Directors' Report
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3
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Profit and Loss Account
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4
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Balance Sheet
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5
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Statement of Changes in Equity
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6
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Notes to the Accounts
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7
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Imprint Signs and Graphics Ltd COMPANY INFORMATION
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Directors
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Registered Office
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Accountants
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Barn Lodge
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Gooseberry Hill
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Swanton Morley
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Dereham
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NR20 4PP
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Imprint Signs and Graphics Ltd DIRECTORS REPORT
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The Directors present their report and the accounts for the year ended 31 August 2017.
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Principal activities
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Directors
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The Directors who served at any time during the year were as follows:
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Signed on behalf of the board
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T.J. Moore
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Director
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29 May 2018
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Imprint Signs and Graphics Ltd PROFIT AND LOSS ACCOUNT
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for the year ended 31 August 2017
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Notes
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2017
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2016
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£
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£
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Turnover
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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 and selling expenses
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(
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(
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Administrative expenses
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(
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(
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Operating profit
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Interest payable and similar charges
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(
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(
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Profit on ordinary activities before taxation
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Taxation
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(
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(
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Profit for the financial year after taxation
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STATEMENT OF COMPREHENSIVE INCOME
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for the year ended 31 August 2017
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2017
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2016
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£
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£
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Profit for the financial year after taxation
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Other comprehensive income
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-
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-
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Total comprehensive income for the year
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Imprint Signs and Graphics Ltd BALANCE SHEET
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at
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Company No.
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Notes
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2017
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2016
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£
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£
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Fixed assets
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Tangible assets
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3
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Current assets
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Stocks
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4
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Debtors
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5
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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6
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(
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(
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Net current assets
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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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7
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(
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(
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Provisions for liabilities
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Deferred taxation
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8
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(
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(
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Other provisions
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8
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(
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Net assets
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Capital and reserves
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Called up share capital
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Profit and loss account
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9
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Total equity
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Approved by the board on 29 May 2018
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And signed on its behalf by:
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T.J. Moore
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Director
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Imprint Signs and Graphics Ltd STATEMENT OF CHANGES IN EQUITY
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for the year ended 31 August 2017
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Share Capital
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Retained earnings
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Total equity
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£
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£
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£
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At 1 September 2015
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Profit for the period
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At 31 August 2016 and 1 September 2016
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Profit for the period
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At 31 August 2017
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Imprint Signs and Graphics Ltd NOTES TO THE ACCOUNTS
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for the year ended 31 August 2017
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1
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Accounting policies
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Basis of preparation
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Turnover
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Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
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Taxation
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. |
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Tangible fixed assets and depreciation
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. |
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Plant and machinery
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Motor vehicles
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Furniture, fittings and equipment
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Stocks
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When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. |
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Trade and other debtors
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Trade and other creditors
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Provisions
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Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. |
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2
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Employees
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2017
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2016
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Number
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Number
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The average number of persons employed during the year :
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3
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Tangible fixed assets
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Plant and machinery
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Motor vehicles
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Fixtures, fittings and equipment
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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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Cost or revaluation
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At 1 September 2016
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Additions
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At 31 August 2017
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Depreciation
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At 1 September 2016
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Charge for the year
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At 31 August 2017
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Net book values
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At 31 August 2017
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At 31 August 2016
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4
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Stocks
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2017
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2016
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£
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£
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Raw materials and consumables
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5
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Debtors
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2017
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2016
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£
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£
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Trade debtors
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Other debtors
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Prepayments and accrued income
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6
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Creditors:
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amounts falling due within one year
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2017
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2016
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£
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£
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Obligations under finance lease and hire purchase contracts
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Trade creditors
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Corporation tax
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Other taxes and social security
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Loans from directors
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Accruals and deferred income
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7
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Creditors:
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amounts falling due after more than one year
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2017
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2016
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£
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£
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Obligations under finance lease and hire purchase contracts
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8
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Provisions for liabilities
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Deferred taxation
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Accelerated capital allowances, losses and other timing differences
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Arising from revaluation
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Total
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£
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£
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£
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At 1 September 2016
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5,075
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Charge to the profit and loss account for the period
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(1,339)
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(
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At 31 August 2017
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3,736
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2017
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2016
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£
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£
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Accelerated capital allowances
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Other provisions
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Other provisions
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Total
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£
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£
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Charge for the period
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At 31 August 2017
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9
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Reserves
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10
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Related party disclosures
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2017
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Transactions with related parties
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£
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Name of related party
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Description of relationship between the parties
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Employee
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Description of transaction and general amounts involved
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Amount due from/(to) the related party
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Name of related party
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Description of relationship between the parties
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Employee
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Amount due from/(to) the related party
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Controlling parties
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Immediate controlling party
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Ultimate controlling party
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N J Moore
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0
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Additional information
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Its registered number is:
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Its registered office is:
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