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Registration number: 05074995

Clavell (UK) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Clavell (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Clavell (UK) Limited

Company Information

Director

J F C Harneiss

Registered office

Lowgate House
Lowgate Road
Conisholme
Louth
Lincolnshire
LN11 7LX

 

Clavell (UK) Limited

(Registration number: 05074995)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

120,736

139,909

Current assets

 

Stocks

5

10,210

8,881

Debtors

6

147,547

109,467

Cash at bank and in hand

 

373,367

277,078

 

531,124

395,426

Creditors: Amounts falling due within one year

7

(149,050)

(142,874)

Net current assets

 

382,074

252,552

Total assets less current liabilities

 

502,810

392,461

Creditors: Amounts falling due after more than one year

7

(5,088)

(34,278)

Provisions for liabilities

(30,184)

(26,583)

Net assets

 

467,538

331,600

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

467,537

331,599

Shareholders' funds

 

467,538

331,600

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director on 4 August 2022
 

.........................................
J F C Harneiss
Director

 

Clavell (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 05074995.

These financial statements were authorised for issue by the director on 4 August 2022.

These financial statements cover the individual entity, Clavell (UK) Limited.

The address of its registered office is:
Lowgate House
Lowgate Road
Conisholme
Louth
Lincolnshire
LN11 7LX
England

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern
Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the businees and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason 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 sale of goods and 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.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Clavell (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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

Motor vehicles

15-25% Reducing balance basis

Plant and machinery

25% Reducing balance basis

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Clavell (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 7 (2021 - 8).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

11,651

312,691

324,342

Additions

-

15,995

15,995

At 31 March 2022

11,651

328,686

340,337

Depreciation

At 1 April 2021

10,306

174,127

184,433

Charge for the year

467

34,701

35,168

At 31 March 2022

10,773

208,828

219,601

Carrying amount

At 31 March 2022

878

119,858

120,736

At 31 March 2021

1,345

138,564

139,909

5

Stocks

2022
£

2021
£

Other inventories

10,210

8,881

6

Debtors

Current

2022
£

2021
£

Trade debtors

109,808

91,699

Prepayments

11,979

8,933

Other debtors

25,760

8,835

 

147,547

109,467

 

Clavell (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

48,646

36,111

Hire purchase liabilities

 

26,853

41,113

Taxation and social security

 

29,648

25,901

Other creditors

 

38,020

32,014

Accruals and deferred income

 

5,883

7,735

 

149,050

142,874

Due after one year

 

Hire purchase liabilities

 

5,088

34,278

Hire purchase liabilities totalling £31,941 (2021: £75,391) are secured upon the assets of the company.

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Hire purchase liabilities

9

5,088

34,278

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Hire purchase liabilities

5,088

34,278

2022
£

2021
£

Current loans and borrowings

Hire purchase liabilities

26,853

41,113

Other borrowings

-

535

26,853

41,648