IRIS Accounts Production v23.3.0.418 06685243 director 1.10.22 30.9.23 30.9.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh066852432022-09-30066852432023-09-30066852432022-10-012023-09-30066852432021-09-30066852432021-10-012022-09-30066852432022-09-3006685243ns10:Originalns15:EnglandWales2022-10-012023-09-3006685243ns14:PoundSterlingns10:Original2022-10-012023-09-3006685243ns10:Originalns10:Director12022-10-012023-09-3006685243ns10:Original2022-10-012023-09-3006685243ns10:Original2023-09-3006685243ns10:Originalns10:PrivateLimitedCompanyLtd2022-10-012023-09-3006685243ns10:Originalns10:SmallEntities2022-10-012023-09-3006685243ns10:Originalns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3006685243ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3006685243ns10:SmallCompaniesRegimeForAccountsns10:Original2022-10-012023-09-3006685243ns10:Originalns10:FullAccounts2022-10-012023-09-3006685243ns10:Originalns10:RegisteredOffice2022-10-012023-09-3006685243ns10:Original2022-09-3006685243ns10:Originalns5:CurrentFinancialInstruments2023-09-3006685243ns10:Originalns5:CurrentFinancialInstruments2022-09-3006685243ns10:Originalns5:Non-currentFinancialInstruments2023-09-3006685243ns10:Originalns5:Non-currentFinancialInstruments2022-09-3006685243ns5:ShareCapitalns10:Original2023-09-3006685243ns5:ShareCapitalns10:Original2022-09-3006685243ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-09-3006685243ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-09-3006685243ns10:Originalns5:PlantMachinery2022-10-012023-09-3006685243ns10:Original2021-10-012022-09-3006685243ns10:Originalns5:PlantMachinery2022-09-3006685243ns10:Originalns5:PlantMachinery2023-09-3006685243ns10:Originalns5:PlantMachinery2022-09-3006685243ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-10-012023-09-3006685243ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-3006685243ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3006685243ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3006685243ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-09-3006685243ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-09-30
REGISTERED NUMBER: 06685243 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 September 2023

for

Clements Finance Limited

Clements Finance Limited (Registered number: 06685243)

Contents of the Financial Statements
For The Year Ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Clements Finance Limited

Company Information
For The Year Ended 30 September 2023







DIRECTOR: Mr M R Clements





REGISTERED OFFICE: 7 Billing Road
Northampton
NORTHAMPTONSHIRE
NN1 5AN





REGISTERED NUMBER: 06685243 (England and Wales)





ACCOUNTANTS: Harris & Clarke LLP
7 Billing Road
Northampton
NORTHAMPTONSHIRE
NN1 5AN

Clements Finance Limited (Registered number: 06685243)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,971 79,033

CURRENT ASSETS
Debtors 5 10,709 18,028
Cash at bank 190,823 192,676
201,532 210,704
CREDITORS
Amounts falling due within one year 6 35,920 85,736
NET CURRENT ASSETS 165,612 124,968
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,583

204,001

CREDITORS
Amounts falling due after more than one year 7 89,548 74,167
NET ASSETS 159,035 129,834

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 159,034 129,833
SHAREHOLDERS' FUNDS 159,035 129,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 October 2023 and were signed by:





Mr M R Clements - Director


Clements Finance Limited (Registered number: 06685243)

Notes to the Financial Statements
For The Year Ended 30 September 2023


1. STATUTORY INFORMATION

Clements Finance Limited is a private company, limited by shares , registered in England and Wales. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Clements Finance Limited (Registered number: 06685243)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 98,825
Additions 104,512
Disposals (84,000 )
At 30 September 2023 119,337
DEPRECIATION
At 1 October 2022 19,792
Charge for year 27,074
Eliminated on disposal (10,500 )
At 30 September 2023 36,366
NET BOOK VALUE
At 30 September 2023 82,971
At 30 September 2022 79,033

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 103,676
At 30 September 2023 103,676
DEPRECIATION
Charge for year 25,919
At 30 September 2023 25,919
NET BOOK VALUE
At 30 September 2023 77,757

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 8,804 8,784

Amounts falling due after more than one year:
Other debtors 1,905 9,244

Aggregate amounts 10,709 18,028

Clements Finance Limited (Registered number: 06685243)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 20,000 -
Trade creditors - 2,920
Taxation and social security 2,437 13,204
Other creditors 3,483 59,612
35,920 85,736

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 19,167 29,167
Hire purchase contracts 48,358 -
Other creditors 22,023 45,000
89,548 74,167