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Registration number: 05440447

Clydale Builders Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 July 2020 to 31 December 2021

 

Clydale Builders Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Clydale Builders Limited

(Registration number: 05440447)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

-

4,279

Current assets

 

Stocks

-

2,405

Debtors

5

8,038

7,332

Cash at bank and in hand

 

19,367

64,122

 

27,405

73,859

Creditors: Amounts falling due within one year

6

(7,128)

(43,072)

Net current assets

 

20,277

30,787

Total assets less current liabilities

 

20,277

35,066

Creditors: Amounts falling due after more than one year

6

(20,000)

-

Net assets

 

277

35,066

Capital and reserves

 

Called up share capital

100

100

Retained earnings

177

34,966

Shareholders' funds

 

277

35,066

For the financial period ending 31 December 2021 the company 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 April 2022 and signed on its behalf by:
 

 

Clydale Builders Limited

(Registration number: 05440447)
Balance Sheet as at 31 December 2021

.........................................
MDA Ainge
Director

 

Clydale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2020 to 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
31a Charnham Street
Hungerford
Berkshire
RG17 0EJ
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors are satisfied that future contracts and profitability are sufficient that the company can be considered a going concern despite the small negative net assets and therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Clydale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2020 to 31 December 2021

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2020 - 2).

 

Clydale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2020 to 31 December 2021

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2020

1,780

717

9,995

12,492

Disposals

(1,780)

(717)

(9,995)

(12,492)

At 31 December 2021

-

-

-

-

Depreciation

At 1 July 2020

1,561

406

6,246

8,213

Charge for the period

33

47

937

1,017

Eliminated on disposal

(1,594)

(453)

(7,183)

(9,230)

At 31 December 2021

-

-

-

-

Carrying amount

At 31 December 2021

-

-

-

-

At 30 June 2020

219

311

3,749

4,279

5

Debtors

Current

2021
£

2020
£

Other debtors

8,038

7,332

 

Clydale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2020 to 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

2,270

26,776

Taxation and social security

2,953

12,890

Other creditors

1,905

3,406

7,128

43,072

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

20,000

-

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Other borrowings

20,000

-

 

Clydale Builders Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2020 to 31 December 2021

8

Related party transactions

Other transactions with directors

During the year the company made loans to the director. At the balance sheet date the amount owed to the company was £1,817 (2020 -£1,881).