Here For You Hospitality Middlesbrough - Limited company accounts 23.2

REGISTERED NUMBER: 09248085 (England and Wales)

HERE FOR YOU HOSPITALITY MIDDLESBROUGH

LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

P M Raven

M Ashdown

REGISTERED OFFICE:

C/O Here For You Hospitality Limited

Low Lane

Stainton Village

Middlesbrough

TS17 9LW

REGISTERED NUMBER:

09248085 (England and Wales)

AUDITORS:

DTE Business Advisers Limited

Chartered Accountants

Statutory Auditors

The Exchange

5 Bank Street

Bury

BL9 0DN

The directors present their strategic report for the year ended 31 December 2022.

Review of business

The year ended 31 December 2022 has continued to be a challenging time for the company, as it has for all hospitality businesses within the UK. The continued impact of the effects of the pandemic and the consequent changes in consumer habits has resulted in a more difficult trading landscape which has meant that the business has needed to adapt in terms of pricing, margins and more targeted marketing for the different sectors of the business.

It is pleasing that, at variance with many other hotels, the hotel property has operated at high occupancy levels. This was due to smart pricing and improved service levels. It is intended that this will continue in subsequent year.

At the year end revenue was £3,335,096 (2021: £2,377,705) an increase of £957,391 over the previous year. This strong performance has however been affected by price rises outside our control.

The company has experienced a challenging year of trading and the reported gross profit margin of 7.5% (2021: 15.3%) with the reduction in part being related to increases in energy costs, rates, food prices and alcohol, together with increased labour costs arising from government legislation and the lack of availability of suitable staff at reasonable salary levels. It should be noted that the company is looking to manage the impact of rising energy prices and labour costs and shortages.

The directors continue to consider the impact of the changes in consumer habits and the underlying economic challenges. The directors believe that they have taken all possible steps to mitigate any risks created as a result of this.

Future developments

The directors believe that the quality of offering in Middlesbrough will help mitigate the competition in its local market place, and enable the company to maintain its performance in what continues to be tough market conditions.

Financial risk management

The company has no hire purchase contracts in place at the end of the year.

The company liquidity risk relates to its ability to fund its day to day operations which it does using parent company borrowing.

Key performance indicators

The business continues to manage and maintain its internal control mechanisms and uses standard indicators in its management of business performance. Management has placed particular focus on the company's regulatory compliance and health & safety.

ON BEHALF OF THE BOARD:

M Ashdown - Director

28 September 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2022.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of running a hotel, restaurant and leisure facility.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2022.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

P M Raven

M Ashdown

DISCLOSURE IN THE STRATEGIC REPORT

Identification of the information for which the company has chosen, in accordance with s414C(11) of the Companies Act, to set out in the company's strategic report which would otherwise be required by Schedule 7 of the 'Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008' to be contained in the directors' report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

DTE Business Advisers Limited has indicated its willingness to be reappointed for another term and appropriate arrangements are being made for them to be reappointed as auditor in the absence of an Annual General Meeting.

ON BEHALF OF THE BOARD:

M Ashdown - Director

28 September 2023

Opinion

We have audited the financial statements of Here For You Hospitality Middlesbrough Limited (the 'company') for the year ended 31 December 2022 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2022 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning process:

.

We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. The company did not inform us of any known, suspected or alleged fraud.

.

We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, Health & Safety at Work 1974, Employment Act 2008, Food Safety Act 1990, Licensing Act 2003, Gaming Act 2005 and General Data Protection Regulations (GDPR).

.

We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

.

Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

.

Identifying and testing journal entries, in particular those that were significant and unusual.

.

Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

.

Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates, in particular in relation to the valuation of freehold property and the calculation of depreciation on fixed assets.

.

Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entities ability to continue in operation.

.

Testing key revenue lines, in particular cut-off, for evidence of management bias.

.

Testing cash sales to ensure the risk of cash misappropriation is minimised.

.

Obtaining third-party confirmation of material bank balances.

.

Documenting and verifying all significant related party and consolidated balances and transactions.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Taylor (Senior Statutory Auditor)

for and on behalf of DTE Business Advisers Limited

Chartered Accountants

Statutory Auditors

The Exchange

5 Bank Street

Bury

BL9 0DN

29 September 2023

REVENUE

3

3,335,096

2,377,705

Cost of sales

(3,084,516

)

(2,014,704

)

GROSS PROFIT

250,580

363,001

Administrative expenses

(611,872

)

(508,985

)

(361,292

)

(145,984

)

Other operating income

-

68,898

OPERATING LOSS and

LOSS BEFORE TAXATION

(361,292

)

(77,086

)

Tax on loss

6

(45,919

)

41,697

LOSS FOR THE FINANCIAL YEAR

(407,211

)

(35,389

)

LOSS FOR THE YEAR

(407,211

)

(35,389

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE LOSS FOR THE YEAR

(407,211

)

(35,389

)

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment

7

8,403,761

8,393,832

CURRENT ASSETS

Inventories

8

24,952

19,317

Debtors

9

52,153

100,832

Cash at bank and in hand

51,125

30,558

128,230

150,707

CREDITORS

Amounts falling due within one year

10

(859,882

)

(515,436

)

NET CURRENT LIABILITIES

(731,652

)

(364,729

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,672,109

8,029,103

CREDITORS

Amounts falling due after more than one year

11

(9,220,703

)

(9,171,203

)

PROVISIONS FOR LIABILITIES

13

(717

)

-

NET LIABILITIES

(1,549,311

)

(1,142,100

)

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

15

(1,549,411

)

(1,142,200

)

SHAREHOLDERS' FUNDS

(1,549,311

)

(1,142,100

)

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:

M Ashdown - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2021

100

(1,106,811

)

(1,106,711

)

Changes in equity

Total comprehensive loss

-

(35,389

)

(35,389

)

Balance at 31 December 2021

100

(1,142,200

)

(1,142,100

)

Changes in equity

Total comprehensive loss

-

(407,211

)

(407,211

)

Balance at 31 December 2022

100

(1,549,411

)

(1,549,311

)

1.	STATUTORY INFORMATION

Here For You Hospitality Middlesbrough Limited is a private company, limited by shares, registered in England and Wales, registration number 09248085. The company's registered office is C/O Here For You Hospitality Limited, Low Lane, Stainton Village, Middlesbrough, England, TS17 9LW.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company is cash generative and meets its day to day working capital requirements from ongoing trading. The company's forecasts and projections, which take account of reasonable possible changes in trading performance, show no reason that the company should not be able to continue to operate.

The company has utilised long term borrowings from its parent company to finance the acquisition and development of its hotel, restaurant and leisure facility and will continue to do so.

The directors have considered the business risks and believe that the company is well placed to manage these risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

Revenue

Revenue is measured at the value of work done for goods and services supplied in the hotel, pub and restaurant industry, excluding value added tax. Revenue is recognised in the accounting period in which the performance of the service has been provided to the customer.

Property, plant & equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% straight line on valuation

Fixtures and fittings

-

10% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Freehold property held and used in the company's own activities for production and supply of goods or for administrative purposes are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in other reserves is transferred to retained earnings. No transfer is made from other reserves to retained earnings unless an asset is derecognised.

At each statement of financial position date, the company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment 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, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When inventories are sold, the carrying amount of those inventories is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of inventories to net realisable value and all losses of inventories 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 inventories is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at costs and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

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 the income statement in the period to which they relate.

Cash & cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks.

Critical accounting estimates and judgements

In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgement in calculating an appropriate depreciation charge.

Estimating the anticipated fair value of the freehold property is considered a key judgement in estimating any required impairment losses.

Leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

3.

REVENUE

The revenue and loss before taxation are attributable to the one principal activity of the company.

An analysis of revenue by geographical market is given below:

2022

2021

£

£

United Kingdom

3,335,096

2,377,705

3,335,096

2,377,705

4.	EMPLOYEES AND DIRECTORS

2022

2021

£

£

Wages and salaries

1,386,953

1,060,571

Social security costs

74,976

56,561

Other pension costs

15,823

13,181

1,477,752

1,130,313

The average number of employees during the year was as follows:

2022

2021

Hotel

103

87

2022

2021

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

The operating loss is stated after charging/(crediting):

2022

2021

£

£

Hire of plant and machinery

48,634

19,556

Depreciation - owned assets

4,952

23,922

Government grants

-

(68,898

)

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the loss for the year was as follows:

2022

2021

£

£

Current tax:

Over provision in prior year

-

(16,155

)

Deferred tax

45,919

(25,542

)

Tax on loss

45,919

(41,697

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2022

2021

£

£

Loss before tax

(361,292

)

(77,086

)

Loss multiplied by the standard rate of corporation tax in the UK of 19% (2021 - 19%)

(68,645

)

(14,646

)

Effects of:

Capital allowances in excess of depreciation

(8,281

)

(6,582

)

Adjustments to tax charge in respect of previous periods

-

(16,155

)

Losses carried forward in the year

72,786

-

Deferred tax in respect of brought forward losses

50,059

(4,314

)

Total tax charge/(credit)

45,919

(41,697

)

For financial years beginning after 1 April 2023, the corporation tax rate will be increased to 25% for profits over £250,000. A small profits rate (SPR) will also be introduced for companies with profits of £50,000 or less so that they will continue to pay corporation tax at 19%. Companies with profits between £50,000 and £250,000 will pay tax at the main rate reduced by marginal relief. The directors are not aware of any other factors that will materially affect the future tax charge.

7.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 January 2022

8,353,503

529,253

8,882,756

Additions

-

14,881

14,881

At 31 December 2022

8,353,503

544,134

8,897,637

DEPRECIATION

At 1 January 2022

-

488,924

488,924

Charge for year

-

4,952

4,952

At 31 December 2022

-

493,876

493,876

NET BOOK VALUE

At 31 December 2022

8,353,503

50,258

8,403,761

At 31 December 2021

8,353,503

40,329

8,393,832

Cost or valuation at 31 December 2022 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2016

(971,591

)

-

(971,591

)

Valuation in 2017

(960,511

)

-

(960,511

)

Cost

10,285,605

544,134

10,829,739

8,353,503

544,134

8,897,637

In the opinion of the directors the above property is considered to be valued at market value.

8.	INVENTORIES

2022

2021

£

£

Finished goods

24,952

19,317

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

5,108

23,439

Other debtors

-

387

Tax

19,479

19,479

Deferred tax asset

-

45,202

Prepayments and accrued income

27,566

12,325

52,153

100,832

Deferred tax asset

2021

£

Accelerated capital allowances

(4,857

)

Tax losses carried forward

50,059

45,202

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

308,390

200,007

Social security & other taxes

450,465

209,087

Other creditors

48,715

54,030

Accruals and deferred income

52,312

52,312

859,882

515,436

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

9,220,703

9,171,203

12.	SECURED DEBTS

The ultimate parent company has a fixed and floating charge over all of the company's assets.

The company's bankers have an omnibus guarantee and set off agreement with the company, along with a fixed and floating charge over the company's assets.

13.	PROVISIONS FOR LIABILITIES

2022

£

Deferred tax

Accelerated capital allowances

717