Company registration number 13887866 (England and Wales)
CLAD JEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
CLAD JEMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CLAD JEMS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
8,242
Current assets
Debtors
4
54,336
Cash at bank and in hand
4,116
58,452
Creditors: amounts falling due within one year
5
(14,442)
Net current assets
44,010
Total assets less current liabilities
52,252
Creditors: amounts falling due after more than one year
6
(3,594)
Provisions for liabilities
(1,566)
Net assets
47,092
Capital and reserves
Called up share capital
100
Profit and loss reserves
46,992
Total equity
47,092
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CLAD JEMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 May 2023 and are signed on its behalf by:
Alexander Tranter
Director
Company Registration No. 13887866
CLAD JEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Clad Jems Limited is a private company limited by shares incorporated in England and Wales. The registered office is 83 Darbys Hill Road, Tividale, Oldbury, West Midlands, B69 1SD.
1.1
Reporting period
This accounting period is for the 14 month period ended 31st March 2023. This is due to company's incorporation in February 2023. There is no changes to accounting period foreseen for the next accounts.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CLAD JEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised costs using the effective interest method.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
Number
Total
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 2 February 2022
Additions
10,990
At 31 March 2023
10,990
Depreciation and impairment
At 2 February 2022
Depreciation charged in the Period
2,748
At 31 March 2023
2,748
Carrying amount
At 31 March 2023
8,242
CLAD JEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 5 -
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
54,336
5
Creditors: amounts falling due within one year
2023
£
Corporation tax
27,449
Other taxation and social security
1,200
Other creditors
(14,207)
14,442
6
Creditors: amounts falling due after more than one year
2023
£
Other creditors
3,594