IRIS Accounts Production v23.3.0.418 SC183498 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC1834982022-03-31SC1834982023-03-31SC1834982022-04-012023-03-31SC1834982021-03-31SC1834982021-04-012022-03-31SC1834982022-03-31SC183498ns16:Scotland2022-04-012023-03-31SC183498ns15:PoundSterling2022-04-012023-03-31SC183498ns11:Director12022-04-012023-03-31SC183498ns11:PrivateLimitedCompanyLtd2022-04-012023-03-31SC183498ns11:SmallEntities2022-04-012023-03-31SC183498ns11:AuditExemptWithAccountantsReport2022-04-012023-03-31SC183498ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC183498ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC183498ns11:AbridgedAccounts2022-04-012023-03-31SC18349812022-04-012023-03-31SC183498ns6:CurrentFinancialInstruments2023-03-31SC183498ns6:CurrentFinancialInstruments2022-03-31SC183498ns6:ShareCapital2023-03-31SC183498ns6:ShareCapital2022-03-31SC183498ns6:CapitalRedemptionReserve2023-03-31SC183498ns6:CapitalRedemptionReserve2022-03-31SC183498ns6:RetainedEarningsAccumulatedLosses2023-03-31SC183498ns6:RetainedEarningsAccumulatedLosses2022-03-31SC183498ns11:RegisteredOffice2022-04-012023-03-31SC183498ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-31SC183498ns6:ComputerSoftware2022-04-012023-03-31SC183498ns6:PlantMachinery2022-04-012023-03-31SC183498ns6:MotorVehicles2022-04-012023-03-31SC183498ns6:ComputerEquipment2022-04-012023-03-31
REGISTERED NUMBER: SC183498 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CLYDE VALLEY LIFTS LIMITED

CLYDE VALLEY LIFTS LIMITED (REGISTERED NUMBER: SC183498)






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




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3

Chartered Accountants' Report 6

CLYDE VALLEY LIFTS LIMITED (REGISTERED NUMBER: SC183498)

ABRIDGED BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,378 -
Tangible assets 5 53,368 5,717
65,746 5,717

CURRENT ASSETS
Stocks 1,334 1,203
Debtors 47,851 19,274
Cash at bank and in hand 577,628 494,046
626,813 514,523
CREDITORS
Amounts falling due within one year 529,758 457,319
NET CURRENT ASSETS 97,055 57,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,801

62,921

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve (150,000 ) (150,000 )
Retained earnings 312,701 212,821
SHAREHOLDERS' FUNDS 162,801 62,921

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

CLYDE VALLEY LIFTS LIMITED (REGISTERED NUMBER: SC183498)

ABRIDGED BALANCE SHEET - continued
31 March 2023



The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





F W McKenna - Director


CLYDE VALLEY LIFTS LIMITED (REGISTERED NUMBER: SC183498)

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

1. STATUTORY INFORMATION

Clyde Valley Lifts Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC183498

Registered office: 120 Stepps Road
Stepps
Glasgow
G33 3NQ

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 and revenue recognition
Turnover represents net invoiced sales of installing and maintaining lifts, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 25% 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.


CLYDE VALLEY LIFTS LIMITED (REGISTERED NUMBER: SC183498)

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

2. ACCOUNTING POLICIES - continued
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.

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 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 16,504
At 31 March 2023 16,504
AMORTISATION
Amortisation for year 4,126
At 31 March 2023 4,126
NET BOOK VALUE

At 31 March 2023 12,378

CLYDE VALLEY LIFTS LIMITED (REGISTERED NUMBER: SC183498)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 48,583
Additions 51,008
Disposals (5,198 )
At 31 March 2023 94,393
DEPRECIATION
At 1 April 2022 42,866
Charge for year 1,967
Eliminated on disposal (3,808 )
At 31 March 2023 41,025
NET BOOK VALUE
At 31 March 2023 53,368
At 31 March 2022 5,717

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

Totals
£   
COST
At 1 April 2022
and 31 March 2023 12,998
DEPRECIATION
At 1 April 2022
and 31 March 2023 7,921
NET BOOK VALUE
At 31 March 2023 5,077
At 31 March 2022 5,077

6. ULTIMATE CONTROLLING PARTY

The company is wholly owned and controlled by the Directors and their family.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CLYDE VALLEY LIFTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clyde Valley Lifts Limited for the year ended 31 March 2023 which comprise the Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Clyde Valley Lifts Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Clyde Valley Lifts Limited and state those matters that we have agreed to state to the Board of Directors of Clyde Valley Lifts Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Clyde Valley Lifts Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Clyde Valley Lifts Limited. You consider that Clyde Valley Lifts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Clyde Valley Lifts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Curle & Co
Chartered Accountants
22 Backbrae Street
Kilsyth
G65 0NH


Date: .............................................