IRIS Accounts Production v23.1.0.753 07517367 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false 101188 84726 8256 16462 109444 101188 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure075173672022-03-31075173672023-03-31075173672022-04-012023-03-31075173672021-03-31075173672021-04-012022-03-31075173672022-03-3107517367ns15:EnglandWales2022-04-012023-03-3107517367ns14:PoundSterling2022-04-012023-03-3107517367ns10:Director12022-04-012023-03-3107517367ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3107517367ns10:SmallEntities2022-04-012023-03-3107517367ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3107517367ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107517367ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3107517367ns10:FullAccounts2022-04-012023-03-310751736742ns10:Director22022-03-310751736742ns10:Director22021-03-310751736742ns10:Director22022-04-012023-03-310751736742ns10:Director22021-04-012022-03-310751736742ns10:Director22023-03-310751736742ns10:Director22022-03-3107517367ns10:Director22022-04-012023-03-3107517367ns10:RegisteredOffice2022-04-012023-03-3107517367ns5:CurrentFinancialInstruments2023-03-3107517367ns5:CurrentFinancialInstruments2022-03-3107517367ns5:Non-currentFinancialInstruments2023-03-3107517367ns5:Non-currentFinancialInstruments2022-03-3107517367ns5:ShareCapital2023-03-3107517367ns5:ShareCapital2022-03-3107517367ns5:RetainedEarningsAccumulatedLosses2023-03-3107517367ns5:RetainedEarningsAccumulatedLosses2022-03-3107517367ns5:FurnitureFittings2022-04-012023-03-3107517367ns5:ComputerEquipment2022-04-012023-03-3107517367ns5:PlantMachinery2022-03-3107517367ns5:FurnitureFittings2022-03-3107517367ns5:MotorVehicles2022-03-3107517367ns5:ComputerEquipment2022-03-3107517367ns5:PlantMachinery2022-04-012023-03-3107517367ns5:MotorVehicles2022-04-012023-03-3107517367ns5:PlantMachinery2023-03-3107517367ns5:FurnitureFittings2023-03-3107517367ns5:MotorVehicles2023-03-3107517367ns5:ComputerEquipment2023-03-3107517367ns5:PlantMachinery2022-03-3107517367ns5:FurnitureFittings2022-03-3107517367ns5:MotorVehicles2022-03-3107517367ns5:ComputerEquipment2022-03-3107517367ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-04-012023-03-3107517367ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3107517367ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107517367ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3107517367ns5:Secured2023-03-3107517367ns5:Secured2022-03-31075173671ns10:Director12022-03-31075173671ns10:Director12021-03-31075173671ns10:Director12022-04-012023-03-31075173671ns10:Director12021-04-012022-03-31075173671ns10:Director12023-03-31075173671ns10:Director12022-03-31
REGISTERED NUMBER: 07517367 (England and Wales)
















Financial Statements for the Year Ended 31 March 2023

for

Clem Woodward Limited

Clem Woodward Limited (Registered number: 07517367)






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


Clem Woodward Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C S Woodward
Mrs L J Woodward





REGISTERED OFFICE: Paul's House
Tower Street
Taunton
Somerset
TA1 4BH





REGISTERED NUMBER: 07517367 (England and Wales)





ACCOUNTANTS: Plunkett Yates Limited
1 Charlotte Mews
Pavilion Place
Exeter
Devon
EX2 4HA

Clem Woodward Limited (Registered number: 07517367)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,127 4,461

CURRENT ASSETS
Debtors 5 149,486 141,855
Cash at bank and in hand 773,816 689,822
923,302 831,677
CREDITORS
Amounts falling due within one year 6 878,304 793,274
NET CURRENT ASSETS 44,998 38,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,125

42,864

CREDITORS
Amounts falling due after more than one year 7 (93,249 ) (39,839 )

PROVISIONS FOR LIABILITIES (11,614 ) -
NET ASSETS 1,262 3,025

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,261 3,024
SHAREHOLDERS' FUNDS 1,262 3,025

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 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.

Clem Woodward Limited (Registered number: 07517367)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





C S Woodward - Director


Clem Woodward Limited (Registered number: 07517367)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Clem Woodward 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.
Fixtures and fittings - 25% on cost
Office Equipment - 33% on cost

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
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.

Clem Woodward Limited (Registered number: 07517367)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 1,499 5,858 - 7,963 15,320
Additions - 864 73,000 - 73,864
At 31 March 2023 1,499 6,722 73,000 7,963 89,184
DEPRECIATION
At 1 April 2022 1,199 2,532 - 7,128 10,859
Charge for year 300 1,680 14,600 618 17,198
At 31 March 2023 1,499 4,212 14,600 7,746 28,057
NET BOOK VALUE
At 31 March 2023 - 2,510 58,400 217 61,127
At 31 March 2022 300 3,326 - 835 4,461

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 73,000
At 31 March 2023 73,000
DEPRECIATION
Charge for year 14,600
At 31 March 2023 14,600
NET BOOK VALUE
At 31 March 2023 58,400

Clem Woodward Limited (Registered number: 07517367)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 149,486 141,855

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 8,100
Hire purchase contracts 9,028 -
Trade creditors - 1
Taxation and social security 108,122 112,504
Other creditors 751,154 672,669
878,304 793,274

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 30,094 39,839
Hire purchase contracts 63,155 -
93,249 39,839

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 40,094 47,939

A personal guarantee has been given by the director, Mr CS Woodward in respect of the bank loan.

9. OTHER FINANCIAL COMMITMENTS

As at the balance sheet date the company had commitments to operating leases totalling £216,373.

Clem Woodward Limited (Registered number: 07517367)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
C S Woodward and Mrs L J Woodward
Balance outstanding at start of year 101,188 84,726
Amounts advanced 8,256 16,462
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 109,444 101,188

Interest is charged on the overdrawn directors' loan account at the HMRC Official Rate.