Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
COMPANY REGISTRATION NUMBER: 02962554 CHARITY REGISTRATION NUMBER: 1070193
Bharatiya Vidya Bhavan (Manchester) Limited Company Limited by Guarantee Unaudited Financial Statements 31 August 2024
STERLING FINANCE [UK] LIMITED
Chartered accountants Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Report to the board of trustees on the preparation of the | |
| unaudited statutory financial statements | 2 |
| Statement of financial activities (including income and | |
| expenditure account) | 3 |
| Statement of financial position | 4 |
| Statement of cash flows | 5 |
| Notes to the financial statements | 6 |
Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2024.
Reference and administrative details
Registered charity name Bharatiya Vidya Bhavan (Manchester) Limited
Charity registration number 1070193 Company registration number 02962554 Principal office and registered Westbourne House office 159 Oldham Road Ashton Under Lyne Lancashire OL7 9AR England
The trustees
Mr B J Sisodia Mr P Joshi (Retired 6 March 2025) Mr K Rajput Mrs G Upadhyaya
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
THE TRUSTEES
The trustees who served the company during the period were as follows:
Mr B J Sisodia Mr P Joshi Mr K Rajput
Accountants Sterling Finance [UK] Limited Chartered accountants Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
The trustees' annual report and the strategic report were approved on 16 April 2025 and signed on behalf of the board of trustees by:
(%8A17DD4327474A9... by: Mr B J Sisodia Trustee
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Statements of Bharatiya Vidya Bhavan (Manchester) Limited
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bharatiya Vidya Bhavan (Manchester) Limited for the year ended 31 August 2024, which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes from the charity's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the board of trustees of Bharatiya Vidya Bhavan (Manchester) Limited, as a body, in accordance with the terms of our engagement letter dated 9 August 2009. Our work has been undertaken solely to prepare for your approval the financial statements of Bharatiya Vidya Bhavan (Manchester) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bharatiya Vidya Bhavan (Manchester) Limited and its board of trustees, as a body, for our work or for this report.
It is your duty to ensure that Bharatiya Vidya Bhavan (Manchester) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bharatiya Vidya Bhavan (Manchester) Limited. You consider that Bharatiya Vidya Bhavan (Manchester) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bharatiya Vidya Bhavan (Manchester) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
STERLING FINANCE [UK] LIMITED Chartered accountants
Westbourne House 159 Oldham Road Ashton Under Lyne Lancashire United Kingdom OL7 9AR
16 April 2025
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 2,167 | 2,167 | 1,913 |
| Charitable activities | 6 | 36,631 | 36,631 | 36,837 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 38,798 | 38,798 | 38,750 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of other trading activities | 7 | 240 | 240 | 662 |
| Expenditure on charitable activities | 8,9 | 40,063 | 40,063 | 35,893 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 40,303 | 40,303 | 36,555 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net (expenditure)/income and net movement in funds | (1,505) | (1,505) | 2,195 | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 28,935 | 28,935 | 26,740 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 27,430 | 27,430 | 28,935 | |
| ============================ | ============================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 12 form part of these financial statements.
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
| 31 August 2024 | |||
|---|---|---|---|
| 2024 | 2023 | ||
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 27,430 | 29,765 | |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 27,430 | 29,765 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 27,430 | 29,765 | |
| Creditors: amounts falling due after more than one year | 13 | – | 830 |
| ---------------------------- | ---------------------------- | ||
| Net assets | 27,430 | 28,935 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Unrestricted funds | 27,430 | 28,935 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 14 | 27,430 | 28,935 |
| ============================ | ============================ |
For the year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 16 April 2025, and are signed on behalf of the board by:
(% by:
Mr B J Sisodia Trustee
The notes on pages 6 to 12 form part of these financial statements.
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2024
| Year ended 31 August 2024 | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (1,505) | 2,195 |
| Adjustments for: | ||
| Accrued income | – | (2,059) |
| Changes in: | ||
| Trade and other creditors | (830) | 830 |
| ----------------------- | ----------------------- | |
| Cash generated from operations | (2,335) | 966 |
| ----------------------- | -------------- | |
| Net cash (used in)/from operating activities | (2,335) | 966 |
| ======================= | ============== | |
| Net (decrease)/increase in cash and cash equivalents | (2,335) | 966 |
| Cash and cash equivalents at beginning of year | 29,765 | 28,799 |
| ---------------------------- | ---------------------------- | |
| Cash and cash equivalents at end of year | 27,430 | 29,765 |
| ============================ | ============================ |
The notes on pages 6 to 12 form part of these financial statements.
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Westbourne House, 159 Oldham Road, Ashton Under Lyne, Lancashire, OL7 9AR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. The financial standards applicable in the UK and the Republic of Ireland, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) Charities SORP (FRS 102) and Companies Act 2006
Changes in formats
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. These financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") as issued in August 2014. The amendments to FRS 102 issued in July 2015 have been applied. The presentation currency of these financial statements is Sterling Pounds.
Changes in accounting policies
In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Changes in accounting estimates
In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
4. Limited by guarantee
The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year after he ceases to be a member, for-
(a) payment of the company's debts and liabilities contracted before he ceases to be a member,(b) payment of the costs, charges and expenses of winding up, and(c) adjustment of the rights of the contributories among themselves.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations received | 2,167 | 2,167 | 1,913 | 1,913 |
| ======================= | ======================= | ======================= | ======================= |
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Education Activities-fees received | 36,069 | 36,069 | 36,837 | 36,837 |
| Fund raising events | 562 | 562 | – | – |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 36,631 | 36,631 | 36,837 | 36,837 | |
| ============================ | ============================ | ============================ | ============================ |
7. Costs of other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Costs of other trading activities - | ||||
| Advertising and publicity | 240 | 240 | 662 | 662 |
| ============== | ============== | ============== | ============== | |
| Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Activity type 1 | 36,987 | 36,987 | 32,974 | 32,974 |
| Support costs | 3,076 | 3,076 | 2,919 | 2,919 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 40,063 | 40,063 | 35,893 | 35,893 | |
| ============================ | ============================ | ============================ | ============================ |
8. Expenditure on charitable activities by fund type
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Activity type 1 | 36,987 | – | 36,987 | 32,974 |
| Governance costs | – | 3,076 | 3,076 | 2,919 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |
| 36,987 | 3,076 | 40,063 | 35,893 | |
| ============================ | ======================= | ============================ | ============================ |
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 28,886 | 26,765 |
| ============================ | ============================ |
The average head count of employees during the year was 12 (2023: Nil). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | ||
|---|---|---|---|
| No. | No. | ||
| Number of staff - type | 1 | – | 12 |
| ============== | ============== |
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
10. Staff costs (continued)
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
11. Trustee remuneration and expenses
no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12. Tangible fixed assets
----- Start of picture text -----
Equipment
£
Cost
At 1 September 2023 and 31 August 2024 1,106
=======================
Depreciation
At 1 September 2023 and 31 August 2024 1,106
=======================
Carrying amount
At 31 August 2024 –
=======================
At 31 August 2023 –
=======================
Creditors: amounts falling due after more than one year
2024 2023
£ £
Trade creditors – 830
============== ==============
Analysis of charitable funds
Unrestricted funds
At At
1 September 31 August 2
2023 Income Expenditure 024
£ £ £ £
General funds 28,935 38,798 (40,303) 27,430
============================ ============================ ============================ ============================
At At
1 September 31 August 20
2022 Income Expenditure 23
£ £ £ £
General funds 26,740 38,750 (36,555) 28,935
============================ ============================ ============================ ============================
----- End of picture text -----
13. Creditors: amounts falling due after more than one year
14. Analysis of charitable funds
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Docusign Envelope ID: 616B8CC0-5246-4101-8BB7-C70B1A872480
Bharatiya Vidya Bhavan (Manchester) Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | 27,430 | 27,430 |
| Creditors less than 1 year | – | – |
| ---------------------------- | ---------------------------- | |
| Net assets | 27,430 | 27,430 |
| ============================ | ============================ | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Current assets | 29,765 | 29,765 |
| Creditors less than 1 year | (830) | (830) |
| ---------------------------- | ---------------------------- | |
| Net assets | 28,935 | 28,935 |
| ============================ | ============================ |
16. Financial instruments
In accordance with FRS 102.22, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions:
(a) They include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and
(b) Where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.
To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares.
17. Analysis of changes in net debt
| At | At | |||
|---|---|---|---|---|
| 1 | Sep 2023 | Cash flows | 31 Aug 2024 | |
| £ | £ | £ | ||
| Cash at bank and in hand | 29,765 | (2,335) | 27,430 |
|
| ============================ | ======================= | ============================ |
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