Cheyne's (Management) Limited - Limited company accounts 23.1

REGISTERED NUMBER: SC231973 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 July 2022

for

Cheyne's (Management) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

Mrs S Adamczuk

P Adamczuk

N R Stitt

SECRETARY:

B M Fox

REGISTERED OFFICE:

46 George Street

Edinburgh

EH2 2LE

REGISTERED NUMBER:

SC231973 (Scotland)

AUDITORS:

Douglas Home & Co (Audit) Limited

47-49 The Square

Kelso

TD5 7HW

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

The principal activities of the company in the year under review were those of Hairdressing Salons, Hairdressing Training delivering NVQ qualifications, educational hairdressing seminars and shows.

REVIEW OF BUSINESS

The Directors are satisfied with the performance for the year in view of the ongoing impact that the Coronavirus Pandemic has had on the hair and beauty industry. This coupled with the cost of living crisis and greatly increased energy costs have made for a tougher 'High Street' but the measures taken by Cheynes to counteract these issues have proved successful.

Overheads have been significantly reduced, leading to a higher profit figure as a result. The Company has achieved profits in excess of £190,000 before tax.

The Directors do not consider that Brexit will have a major impact on the company.

PRINCIPAL RISKS AND UNCERTAINTIES

The current economic situation across the UK, driven by high inflation and high energy costs, have undoubtedly had an impact on consumer confidence but the Directors are confident that the consolidation measures taken will lead to strong financial results in the coming months and years ahead.

ON BEHALF OF THE BOARD:

P Adamczuk - Director

18 April 2023

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Hairdressing Salons, Hairdressing Training delivering NVQ qualifications, educational hairdressing seminars and shows.

DIVIDENDS

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

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2021 to the date of this report.

Mrs S Adamczuk

P Adamczuk

N R Stitt

Other changes in directors holding office are as follows:

W Howarth - resigned 20 August 2021

GOING CONCERN

In carrying out their duties in respect of going concern, the directors have carried out a review of the group's financial position for a period of 12 months from the date of signing these financial statements. The company currently meets its day to day working capital requirements through its cash balance, which is sufficient to cover working capital requirements. The directors have a reasonable expectation that the group have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual reports and accounts.

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). 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.

AUDITORS

The auditors, Douglas Home & Co (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P Adamczuk - Director

18 April 2023

Opinion

We have audited the financial statements of Cheyne's (Management) Limited (the 'company') for the year ended 31 July 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 July 2022 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 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 Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit is 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are detailed below:

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

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, FRS102 and local tax legislation. The engagement partner ensured the engagement team had the necessary competence, capabilities and skills to identify laws and regulations and they remained alert to such matters throughout the audit.

Based on the results of our risk assessments we designed our audit procedures to identify non-compliance with such laws and regulation. We identified and evaluated the laws and regulations and enquired of management whether they were aware of any instances of non-compliance. We corroborated these through review of legal and professional fees and any correspondence with HMRC, alongside a review of Companies House updates. A full disclosure checklist was carried out. Tax computations were checked for accuracy of calculations and inputs.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. The laws and regulations we considered in this context included UK Employment Law, Data Protection Act 2018 and Health and Safety laws.

Based on the results of our risk assessments we designed our audit procedures to identify non-compliance with such laws and regulation. We identified and evaluated the laws and regulation and enquired to management whether they were aware of any instances of non-compliance and what procedures were in place to ensure compliance. We corroborated this through review of correspondence with any regulators, review of policies for health and Safety and data protection and reviewing submissions to HMRC. A walk through of the payroll processes was performed including review of the contract and gross to net pay checks, and verification checks of staff.

We assessed the risks of material misstatement in respect of fraud via enquiries of management and those charged with governance as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud and considered the internal controls in place to mitigate risks of fraud. Permission on the accounting software were checked and were appropriate to the staff role, access to online banking for making payments was also established, evidence of authorization and allocations of major expenditure were sought. The directors are very involved in the day to day running of the business and have good knowledge of the amount and expected timing of receipts from customers and payments to suppliers.

To address the risk of fraud through management bias and override of controls we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions, assessed the level of subjectivity and estimation within the account balances and investigated the rationale behind any significant or unusual transactions. The preparation of the yearly accounts by DHCO mitigates this risk.

With regard to identification of material misstatements in relation to fraud, we considered income recognition in line with FRS102, reviewed the appropriateness of the accounting policies selected and reviewed disclosures for completeness and accuracy. We also identified related parties and reviewed the completeness and accuracy of related party transactions.

The main factors of the audit process which may affect the likelihood of detection of irregularities includes the element of inherent difficulty always present in detecting irregularities due to fraud, the increase in the inherent difficulty due to remote audit testing and that conclusions on the design and implementation of internal controls focus only on those we have assessed as key controls.

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/responsibilities. This description forms part of our Report of the Independent Auditors.

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.

Alan Drummond BA CA FMAAT (Senior Statutory Auditor)

for and on behalf of Douglas Home & Co (Audit) Limited

47-49 The Square

Kelso

TD5 7HW

19 April 2023

TURNOVER

3

4,106,290

3,577,451

Cost of sales

2,990,445

3,066,291

GROSS PROFIT

1,115,845

511,160

Administrative expenses

932,007

951,769

183,838

(440,609

)

Other operating income

27,150

572,953

OPERATING PROFIT

5

210,988

132,344

Interest receivable and similar income

20

34

211,008

132,378

Interest payable and similar expenses

6

14,186

11,383

PROFIT BEFORE TAXATION

196,822

120,995

Tax on profit

7

41,590

24,305

PROFIT FOR THE FINANCIAL YEAR

155,232

96,690

PROFIT FOR THE YEAR

155,232

96,690

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

155,232

96,690

FIXED ASSETS

Intangible assets

8

4,300,000

4,300,000

Tangible assets

9

135,529

173,340

4,435,529

4,473,340

CURRENT ASSETS

Stocks

10

51,773

70,013

Debtors

11

516,934

232,562

Cash at bank and in hand

375,080

547,029

943,787

849,604

CREDITORS

Amounts falling due within one year

12

710,387

675,419

NET CURRENT ASSETS

233,400

174,185

TOTAL ASSETS LESS CURRENT LIABILITIES

4,668,929

4,647,525

CREDITORS

Amounts falling due after more than one year

13

(257,350

)

(388,765

)

PROVISIONS FOR LIABILITIES

17

(23,500

)

(25,913

)

NET ASSETS

4,388,079

4,232,847

CAPITAL AND RESERVES

Called up share capital

18

1,000

1,000

Retained earnings

4,387,079

4,231,847

SHAREHOLDERS' FUNDS

4,388,079

4,232,847

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2023 and were signed on its behalf by:

P Adamczuk - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 August 2020

1,000

4,135,157

4,136,157

Changes in equity

Total comprehensive income

-

96,690

96,690

Balance at 31 July 2021

1,000

4,231,847

4,232,847

Changes in equity

Total comprehensive income

-

155,232

155,232

Balance at 31 July 2022

1,000

4,387,079

4,388,079

Cash flows from operating activities

Cash generated from operations

1

16,903

(47,110

)

Interest paid

(14,186

)

(11,383

)

Government grants

12,000

101,500

Tax paid

(34,923

)

(59,865

)

Net cash from operating activities

(20,206

)

(16,858

)

Cash flows from investing activities

Purchase of tangible fixed assets

(16,192

)

-

Interest received

20

34

Net cash from investing activities

(16,172

)

34

Cash flows from financing activities

Loan repayments in year

(135,571

)

(120,511

)

Net cash from financing activities

(135,571

)

(120,511

)

Decrease in cash and cash equivalents

(171,949

)

(137,335

)

Cash and cash equivalents at beginning of year

2

547,029

684,364

Cash and cash equivalents at end of year

2

375,080

547,029

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.7.22

31.7.21

£

£

Profit before taxation

196,822

120,995

Depreciation charges

54,003

63,863

Government grants

(12,000

)

(101,500

)

Finance costs

14,186

11,383

Finance income

(20

)

(34

)

252,991

94,707

Decrease/(increase) in stocks

18,240

(4,176

)

Increase in trade and other debtors

(284,372

)

(62,924

)

Increase/(decrease) in trade and other creditors

30,044

(74,717

)

Cash generated from operations

16,903

(47,110

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2022

31.7.22

1.8.21

£

£

Cash and cash equivalents

375,080

547,029

Year ended 31 July 2021

31.7.21

1.8.20

£

£

Cash and cash equivalents

547,029

684,364

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.8.21

Cash flow

At 31.7.22

£

£

£

Net cash

Cash at bank and in hand

547,029

(171,949

)

375,080

547,029

(171,949

)

375,080

Debt

Debts falling due within 1 year

(135,571

)

4,156

(131,415

)

Debts falling due after 1 year

(388,765

)

131,415

(257,350

)

(524,336

)

135,571

(388,765

)

Total

22,693

(36,378

)

(13,685

)

1.	STATUTORY INFORMATION

Cheyne's (Management) Limited is a private company, limited by shares , registered in Scotland. 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.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year are addressed below.

(i) Goodwill valuation

The valuation of goodwill involves a number of estimates including future profitability and considered of any factors which may lead to an impairment.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when customers receive goods and when services are performed.

Goodwill

Positive goodwill capitalised, classified as an asset on the balance sheet and amortised unless the durability of the acquired business can be demonstrated. It is reviewed for impairment at the end of the first full financial year following the acquisition and annually thereafter.

Cheyne's is recognised as a leading brand within the industry and has won many awards. The salons are located in prime sites and high levels of repeat business over many years demonstrate the durability of goodwill.

An impairment review was carried out at 31 July 2022 and goodwill was calculated to have a value in excess of the carrying value at the date and therefore no amortisation has been provided. This is a departure from the requirements of the Companies Act 2006 and has been adopted in order to present a true and fair view of the company's results. Amortisation of £nil has been charged for the year ended 31 July 2022. If the goodwill has been amortised over 20 years the amortisation charge for the year ended 31 July 2022 would have been £434,450 and the net book value of goodwill as at that date would have been £ni.

Tangible fixed assets

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

Short leasehold improvements

-

Over the remaining life of the lease

Fixtures and fittings

-

20% on cost and 15% on cost

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Government grants

Other income represents grants which have been received in respect of furloughed staff and based on the rateable value of properties. Such grants are taken to the profit on loss in the period to which they relate.

Stocks

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

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective rate of interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade debtors and other creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

3.

TURNOVER

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

An analysis of turnover by class of business is given below:

31.7.22

31.7.21

£

£

Salon

2,597,051

2,102,364

Retail

114,416

112,209

Training

1,394,823

1,362,878

4,106,290

3,577,451

4.	EMPLOYEES AND DIRECTORS

31.7.22

31.7.21

£

£

Wages and salaries

1,856,789

1,972,208

Social security costs

154,070

165,998

Other pension costs

31,161

36,259

2,042,020

2,174,465

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

31.7.22

31.7.21

Administration and support

11

10

Sales, marketing and distribution

58

78

69

88

31.7.22

31.7.21

£

£

Directors' remuneration

219,492

232,896

Directors' pension contributions to money purchase schemes

831

1,883

Information regarding the highest paid director is as follows:

31.7.22

31.7.21

£

£

Emoluments etc

90,400

80,075

5.	OPERATING PROFIT

The operating profit is stated after charging:

31.7.22

31.7.21

£

£

Depreciation - owned assets

54,003

63,863

Auditors' remuneration

9,740

6,500

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.7.22

31.7.21

£

£

Bank loan interest

12,530

11,383

Other loan interest

1,656

-

14,186

11,383

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.7.22

31.7.21

£

£

Current tax:

UK corporation tax

44,003

34,923

Deferred tax

(2,413

)

(10,618

)

Tax on profit

41,590

24,305

UK corporation tax has been charged at 19% .

Reconciliation of total tax charge 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:

31.7.22

31.7.21

£

£

Profit before tax

196,822

120,995

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

37,396

22,989

Effects of:

Expenses not deductible for tax purposes

143

1,316

Depreciation in excess of capital allowances

6,464

-

Deferred taxation

(2,413

)

-

Total tax charge

41,590

24,305

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2021

and 31 July 2022

8,689,000

AMORTISATION

At 1 August 2021

and 31 July 2022

4,389,000

NET BOOK VALUE

At 31 July 2022

4,300,000

At 31 July 2021

4,300,000

9.	TANGIBLE FIXED ASSETS

Short

Fixtures

leasehold

and

improvements

fittings

Totals

£

£

£

COST

At 1 August 2021

421,792

907,828

1,329,620

Additions

5,460

10,732

16,192

At 31 July 2022

427,252

918,560

1,345,812

DEPRECIATION

At 1 August 2021

349,234

807,046

1,156,280

Charge for year

17,126

36,877

54,003

At 31 July 2022

366,360

843,923

1,210,283

NET BOOK VALUE

At 31 July 2022

60,892

74,637

135,529

At 31 July 2021

72,558

100,782

173,340

10.

STOCKS

31.7.22

31.7.21

£

£

Stocks

51,773

70,013

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

134,959

150,328

Other debtors

300,587

45,472

Prepayments and accrued income

81,388

36,762

516,934

232,562