Advante Limited - Limited company accounts 23.2

REGISTERED NUMBER: 00653012 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 December 2023

for

Advante Limited

Page

Company Information

1

Managing Director's Report

2

Strategic Report

3

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

F S Chapman

W F H Messenger

J Odom

SECRETARY:

J Odom

REGISTERED OFFICE:

10/11 Argent Court

Sylvan Way

Southfields Business Park

Basildon

Essex

SS15 6TH

REGISTERED NUMBER:

00653012 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

I am pleased to report that for the 12 months to 31 December 2023, turnover increased to £15.5 million, from £13.4 million in the 12 month period to 31 December 2022. Operating profit also increased from £3.2 million to £4.1million for the same period.

2023 saw Advanté celebrating 25 years of Oasis instant start welfare and reflecting on the positive impact launching a revolutionary new way of working all those years ago has had on the working conditions for people working on construction sites at the start and end of a project.

Oasis EcoLogic Solar welfare has continued to bring sustainability to our clients' sites with reduced carbon and running cost savings as well as a positive community impact with clean air and reduced noise. In June 2023 we published our EcoLogic Solar range performance stats of 95.2% of electricity delivered, from solar and stored energy.

Oasis welfare was externally recognised with a number of awards. The Green Organisation awarded Oasis EcoLogic Solar with Global Silver winner for Innovation, as well as two international Green Apple Awards for our Vision Solar range.

As a result of this international Green Apple Award success, we were invited to accept Green World Ambassador status and had our winning paper published in the Green Book (the leading international work of reference on environmental Best Practice), so that others around the world can learn from everyone's achievements.

We also celebrated the launch of two new products to our range in 2023 - the Oasis SolarGo, a solar single toilet unit and the Oasis Solar Vision Access unit, the UK's first self-contained toilet block with full disabled access in line with Building Regulations.

Advanté continues to be an active Partner of the Supply Chain Sustainability School and works collaboratively with the other Partners of the School to play our part in driving positive change in the UK construction industry by supporting initiatives around social, environmental and economic sustainability.

Aware of our social and environmental responsibility, we were one of the funding partners in collaboration with Action Sustainability to develop procurement guidance 'Addressing Modern Slavery and Forced Labour in Solar PV Supply Chains'. This procurement guide was shortlisted in the 'Partnership and Collaboration: Education & Empowerment' category for the prestigious edie Awards. The edie awards are the UK's largest sustainable business awards scheme.

As always, the Board of Directors would like to thank our Clients for continuing to entrust their staff's welfare to us, our supply chain for their collaboration and support, and of course our loyal staff for their passion, hard work and commitment to continue raising the bar in the products and services we offer our Clients, to ensure first class welfare to their sites.

We look back on 2023 with great pride on Oasis welfare's 25 year journey, creating a whole new industry centred around providing better welfare for people working in the construction industry.

We look forward to 2024 with great optimism, fully focused on continuing to supply the UK construction industry with more sustainable, innovative welfare solutions.

The directors present their strategic report for the year ended 31 December 2023.

The principal activity of the Company in the period under review was that of hiring, service and sale of instant start welfare, modular and other site welfare accomodation.

REVIEW OF BUSINESS

I am pleased to report that for the 12 months to 31 December 2023, turnover increased to £15.5 million, from £13.4 million in the 12-month period to 31 December 2022. Operating profit also increased from £3.2 million to £4.1million for the same period.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors of the Company regularly meet to review any risks and uncertainties that are either currently faced by the Company or will potentially be faced by the Company in the future. The principal risks of the business comprise of the following:

Credit Risk

The Company undertakes credit checks of new clients before entering contracts and reviews the credit ratings of existing clients continuously along with the operation of strict credit control processes. Credit risk is also mitigated by having a wide client base and maintaining positive cash balances.

Interest Rate and Liquidity Risks

The Company has strict control of debtors which minimises the liquidity risks to the business.

KEY PERFORMANCE INDICATORS

Financial

The Company uses the following key performance indicators to monitor the business.

At the period end the company achieved a current ratio of 4.3:1 (2022 restated: 2.6:1), gross profit margin of 46.1% (2022: 44.4%) and an operating profit margin of 26.1% (2022: 23.8%). These KPl's are monitored regularly by the directors who are satisfied with the current ratio and the gross profit margin.

Non- Financial

The Company also measures its performance using non-financial indicators. Such indicators include sales targets (units on hire), operation budget control, and weekly operation KPI reports on many items from each area of the business. In addition to this, there are checks by Managers on safety, environment, and quality and regulatory compliance. These are independently audited by British Standards Institution (B.S.I) at all operational locations.

Safety - the Company holds BSI registered accreditation to ISO 45001:2018 and has a proactive approach to safety, liaising with insurers, trade bodies and management to ensure constant improvement of working methods and technologies within the business in line with best practice and revised regulation. The output from this process is delivered to the business by the companies Integrated Management system audited by B.S.I. with regular toolbox talks and training delivered to all.

Environment - the Company holds BSI registered accreditation to ISO 14001:2015 and have in place a programme defined to determine the significance and environmental activities detailing the Aspects and Impacts of the business, including the measurement and monitoring of environmental performance and outputs to ensure safe and environmentally safe methods of operation within the business.

ON BEHALF OF THE BOARD:

W F H Messenger - Director

14 June 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

F S Chapman

W F H Messenger

J Odom

Other changes in directors holding office are as follows:

J A Devenish FCCA - resigned 16 October 2023

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Annual Report 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). 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

W F H Messenger - Director

14 June 2024

Opinion

We have audited the financial statements of Advante Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement 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 2023 and of its profit 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 Annual Report, 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 four, 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:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

We plan our work to gain an understanding of the significant laws and regulations that are of significance to the entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its legal and regulatory framework.

-

We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and people charged with governance.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

-

Substantive procedures performed in accordance with the ISAs (UK).

-

Challenging assumptions and judgments made by management in its significant accounting estimates.

-

Identifying and testing journal entries, in particular material journal entries and an assessment of year end journals.

-

Assessing the extent of compliance with the relevant laws and regulations.

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.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

14 June 2024

TURNOVER

3

15,529,638

13,369,531

Cost of sales

8,374,113

7,432,307

GROSS PROFIT

7,155,525

5,937,224

Administrative expenses

3,416,570

2,956,703

OPERATING PROFIT

5

3,738,955

2,980,521

Interest receivable and similar income

312,872

204,122

PROFIT BEFORE TAXATION

4,051,827

3,184,643

Tax on profit

6

(4,225

)

117,669

PROFIT FOR THE FINANCIAL YEAR

4,056,052

3,066,974

PROFIT FOR THE YEAR

4,056,052

3,066,974

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

4,056,052

3,066,974

FIXED ASSETS

Intangible assets

8

32,867

28,412

Tangible assets

9

8,399,998

8,997,900

8,432,865

9,026,312

CURRENT ASSETS

Stocks

10

358,860

279,201

Debtors

11

11,559,697

6,636,677

Cash at bank

735,652

1,241,908

12,654,209

8,157,786

CREDITORS

Amounts falling due within one year

12

2,962,100

3,115,176

NET CURRENT ASSETS

9,692,109

5,042,610

TOTAL ASSETS LESS CURRENT LIABILITIES

18,124,974

14,068,922

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

15

18,124,874

14,068,822

SHAREHOLDERS' FUNDS

18,124,974

14,068,922

The financial statements were approved by the Board of Directors and authorised for issue on 14 June 2024 and were signed on its behalf by:

W F H Messenger - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2022

100

11,001,848

11,001,948

Changes in equity

Total comprehensive income

-

3,066,974

3,066,974

Balance at 31 December 2022

100

14,068,822

14,068,922

Changes in equity

Total comprehensive income

-

4,056,052

4,056,052

Balance at 31 December 2023

100

18,124,874

18,124,974

Cash flows from operating activities

Cash generated from operations

19

460,223

4,582,061

Tax paid

18,555

(131,999

)

Net cash from operating activities

478,778

4,450,062

Cash flows from investing activities

Purchase of intangible fixed assets

-

(14,650

)

Purchase of tangible fixed assets

(1,307,971

)

(4,317,494

)

Sale of tangible fixed assets

10,065

55,550

Interest received

312,872

204,122

Net cash from investing activities

(985,034

)

(4,072,472

)

(Decrease)/increase in cash and cash equivalents

(506,256

)

377,590

Cash and cash equivalents at beginning of year

20

1,241,908

864,318

Cash and cash equivalents at end of year

20

735,652

1,241,908

1.	STATUTORY INFORMATION

Advante Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is the value of hire charges and unit sales income invoiced, excluding value added tax. Turnover is recognised in the year or period in which it relates to.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance, 20% on cost, 15% on cost, 10% on cost and 5% on cost

Fixtures and fittings

-

25% on cost

Assets under construction are not depreciated until they are in use. Once in use they are depreciated over their expected useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is accounted for using the First In First Out method.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances and loans to fellow group companies are recognised at transaction price.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. The contributions payable for the year or period are charged in the profit and loss account.

Investment in subsidiary company

Investment in subsidiary company is held at cost less accumulated impairment losses.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

All turnover in the current and prior period is derived from site accommodation hire and sale and related charges.

4.	EMPLOYEES AND DIRECTORS

2023

2022

as restated

£

£

Wages and salaries

3,081,436

2,633,721

Social security costs

311,421

248,486

Other pension costs

248,186

121,296

3,641,043

3,003,503

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

2023

2022

as restated

Site accommodation

30

26

Administration

33

32

63

58

2023

2022

as restated

£

£

Directors' remuneration

591,629

349,524

Directors' pension contributions to money purchase schemes

87,198

37,861

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

3

3

Information regarding the highest paid director is as follows:

2023

2022

as restated

£

£

Emoluments etc

344,817

155,038

Pension contributions to money purchase schemes

34,414

20,072

5.	OPERATING PROFIT

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

2023

2022

as restated

£

£

Other cost of sales

4,590,368

4,005,684

Depreciation - owned assets

1,896,057

1,795,107

Profit on disposal of fixed assets

(6,350

)

(34,277

)

Patents and licences amortisation

1,647

1,179

Auditors' remuneration

26,100

18,436

Research and development

58,940

127,342

6.

TAXATION

Analysis of the tax (credit)/charge

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

2023

2022

as restated

£

£

Current tax:

Prior year adjustment

(4,225

)

117,669

Tax on profit

(4,225

)

117,669

UK corporation tax has been charged at 25% (2022 - 19%).

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

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

2023

2022

as restated

£

£

Profit before tax

4,051,827

3,184,643

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2022 - 19%)

1,012,957

605,082

Effects of:

Expenses not deductible for tax purposes

(1,791

)

31,249

Capital allowances in excess of depreciation

-

(66

)

Depreciation in excess of capital allowances

17,209

-

capital allowances

Profit on disposal of assets

385

(6,512

)

Group relief not paid for

(1,028,760

)

(629,753

)

Under provision of tax for the prior year

-

117,669

Research & development refund

(4,225

)

-

Total tax (credit)/charge

(4,225

)

117,669

7.	PRIOR YEAR ADJUSTMENT

The company constructs and refurbishes welfare units which are capitalised as plant when completed. During the construction phase, these are now classified as assets in the course of construction within tangible fixed assets. Previously these were assets were classified in other debtors. The reclassification of these assets is a prior year adjustment. Had this adjustment not been made, other debtors would have been £606,140 (2022 - £1,281,589) higher than now shown.

An element of the inter-company balance is subject to a loan agreement which states that it is not repayable within one year and therefore should be included in debtors due in more than one year. The comparative has been restated to reflect the correct split of the inter-company balance. Previously it was all classified as due within one year.

Furthermore the inter-company trading balance of £824,529 has been included in the inter-company debtor as opposed to trade debtors as it was in prior periods. The comparative period has been restated for consistency. As a result the inter-company debtor comparative is higher than previously stated by £877,399.

8.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2023

94,544

Additions

6,102

At 31 December 2023

100,646

AMORTISATION

At 1 January 2023

66,132

Amortisation for year

1,647

At 31 December 2023

67,779

NET BOOK VALUE

At 31 December 2023

32,867

At 31 December 2022

28,412

9.	TANGIBLE FIXED ASSETS

Assets in

Improvements

Fixtures

the

to

Plant and

and

course of

property

machinery

fittings

construction

Totals

£

£

£

£

£

COST

At 1 January 2023

38,790

21,961,939

716,830

1,281,589

23,999,148

Additions

-

74,226

42,615

1,185,029

1,301,870

Disposals

-

(1,687,017

)

-

-

(1,687,017

)

Reclassification/transfer

-

1,860,478

-

(1,860,478

)

-

At 31 December 2023

38,790

22,209,626

759,445

606,140

23,614,001

DEPRECIATION

At 1 January 2023

38,318

14,359,623

603,307

-

15,001,248

Charge for year

118

1,845,249

50,690

-

1,896,057

Eliminated on disposal

-

(1,683,302

)

-

-

(1,683,302

)

At 31 December 2023

38,436

14,521,570

653,997

-

15,214,003

NET BOOK VALUE

At 31 December 2023

354

7,688,056

105,448

606,140

8,399,998

At 31 December 2022

472

7,602,316

113,523

1,281,589

8,997,900

10.

STOCKS

2023

2022

as restated

£

£

Raw materials and consumables

358,860

279,201