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REGISTERED NUMBER: 05868123 (England and Wales)

















Clifford Engineering (Hull) Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






Clifford Engineering (Hull) Limited (Registered number: 05868123)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clifford Engineering (Hull) Limited

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: Mr M R Clifford





SECRETARY: Mrs L Cobby





REGISTERED OFFICE: 45 Lincoln Street
Hull
East Yorkshire
HU2 0PB





REGISTERED NUMBER: 05868123 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Clifford Engineering (Hull) Limited (Registered number: 05868123)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 143,245 157,879
143,245 157,879

CURRENT ASSETS
Stocks 6 2,000 250
Debtors 7 89,908 53,363
Cash at bank 156,918 146,294
248,826 199,907
CREDITORS
Amounts falling due within one year 8 144,827 120,323
NET CURRENT ASSETS 103,999 79,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

247,244

237,463

CREDITORS
Amounts falling due after more than one
year

9

(22,500

)

(32,500

)

PROVISIONS FOR LIABILITIES (24,863 ) (27,136 )
NET ASSETS 199,881 177,827

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 199,879 177,825
SHAREHOLDERS' FUNDS 199,881 177,827

Clifford Engineering (Hull) Limited (Registered number: 05868123)

BALANCE SHEET - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2023 and were signed by:





Mr M R Clifford - Director


Clifford Engineering (Hull) Limited (Registered number: 05868123)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Clifford Engineering (Hull) 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Lodge - Straight line over 10 years

Government grants
Government grants are recognised at fair value when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets. Grants related to expenses are treated as income in the profit and loss account in the period they are receivable.

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 Profit and Loss Account, 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.

Clifford Engineering (Hull) Limited (Registered number: 05868123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 5,000
AMORTISATION
At 1 April 2022
and 31 March 2023 5,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Clifford Engineering (Hull) Limited (Registered number: 05868123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Lodge Totals
£    £    £    £    £   
COST
At 1 April 2022 321,225 10,105 31,417 68,685 431,432
Additions 11,930 636 - - 12,566
Disposals (1,582 ) (602 ) - - (2,184 )
At 31 March 2023 331,573 10,139 31,417 68,685 441,814
DEPRECIATION
At 1 April 2022 222,995 6,249 23,712 20,597 273,553
Charge for year 16,409 1,087 1,926 6,868 26,290
Eliminated on disposal (815 ) (459 ) - - (1,274 )
At 31 March 2023 238,589 6,877 25,638 27,465 298,569
NET BOOK VALUE
At 31 March 2023 92,984 3,262 5,779 41,220 143,245
At 31 March 2022 98,230 3,856 7,705 48,088 157,879

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 15,417
Transfer to ownership (15,417 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 8,913
Transfer to ownership (8,913 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 6,504

6. STOCKS
2023 2022
£    £   
Stocks 2,000 250

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 85,697 49,369
Prepayments 4,211 3,994
89,908 53,363

Clifford Engineering (Hull) Limited (Registered number: 05868123)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 4,000
Trade creditors 34,306 17,819
Tax 8,363 3,764
Social security and other taxes 1,053 1,207
VAT 11,776 6,972
Credit card 4,673 2,242
Directors' current accounts 70,112 70,960
Accruals 4,544 3,359
144,827 120,323

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,500 22,500
22,500 32,500