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REGISTERED NUMBER: 04665206 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

CLOCKWORK POWDER COATING LIMITED

CLOCKWORK POWDER COATING LIMITED (REGISTERED NUMBER: 04665206)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLOCKWORK POWDER COATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: C F Lee
Mrs L Lee





SECRETARY: Mrs L Lee





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 04665206 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

CLOCKWORK POWDER COATING LIMITED (REGISTERED NUMBER: 04665206)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 17,648 19,641

CURRENT ASSETS
Stocks 25,190 24,965
Debtors 5 56,527 51,982
Cash at bank 11,394 27,435
93,111 104,382
CREDITORS
Amounts falling due within one year 6 (51,912 ) (57,659 )
NET CURRENT ASSETS 41,199 46,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,847

66,364

CREDITORS
Amounts falling due after more than one
year

7

(33,029

)

(42,673

)

PROVISIONS FOR LIABILITIES (3,109 ) (3,109 )
NET ASSETS 22,709 20,582

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 22,609 20,482
SHAREHOLDERS' FUNDS 22,709 20,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CLOCKWORK POWDER COATING LIMITED (REGISTERED NUMBER: 04665206)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





C F Lee - Director


CLOCKWORK POWDER COATING LIMITED (REGISTERED NUMBER: 04665206)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Clockwork Powder Coating 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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

CLOCKWORK POWDER COATING LIMITED (REGISTERED NUMBER: 04665206)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 80,082 8,995 2,270 91,347
Additions 1,344 - 1,170 2,514
At 28 February 2023 81,426 8,995 3,440 93,861
DEPRECIATION
At 1 March 2022 60,754 8,995 1,957 71,706
Charge for year 4,136 - 371 4,507
At 28 February 2023 64,890 8,995 2,328 76,213
NET BOOK VALUE
At 28 February 2023 16,536 - 1,112 17,648
At 28 February 2022 19,328 - 313 19,641

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 54,832 51,193
Other debtors 1,695 789
56,527 51,982

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,572 9,314
Amounts owed to participating interests 7,500 -
Taxation and social security 37,636 45,730
Other creditors 3,204 2,615
51,912 57,659

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 33,029 42,673

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100