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REGISTERED NUMBER: 06101848 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Mark Clegg & Co Limited

Mark Clegg & Co Limited (Registered number: 06101848)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Mark Clegg & Co Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr M Clegg
Mrs J E Clegg





REGISTERED OFFICE: Higher College Farm
Lower Road
Hothersall
Preston
Lancashire
PR3 2YY





REGISTERED NUMBER: 06101848 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Mark Clegg & Co Limited (Registered number: 06101848)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,670 7,560
Tangible assets 5 85,629 34,810
91,299 42,370

CURRENT ASSETS
Stocks 323,027 334,221
Debtors 6 1,254,483 1,306,950
Cash at bank and in hand 705,062 273,979
2,282,572 1,915,150
CREDITORS
Amounts falling due within one year 7 696,290 707,506
NET CURRENT ASSETS 1,586,282 1,207,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,677,581

1,250,014

CREDITORS
Amounts falling due after more than one
year

8

(35,090

)

-

PROVISIONS FOR LIABILITIES (11,729 ) (1,784 )
NET ASSETS 1,630,762 1,248,230

CAPITAL AND RESERVES
Called up share capital 1,080 1,080
Retained earnings 1,629,682 1,247,150
SHAREHOLDERS' FUNDS 1,630,762 1,248,230

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.

Mark Clegg & Co Limited (Registered number: 06101848)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





Mr M Clegg - Director


Mark Clegg & Co Limited (Registered number: 06101848)

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


1. STATUTORY INFORMATION

Mark Clegg & Co 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

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 five 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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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 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 statement of financial position date.


Mark Clegg & Co Limited (Registered number: 06101848)

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 statement of financial position 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 20 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 250,000 9,450 259,450
AMORTISATION
At 1 April 2022 250,000 1,890 251,890
Amortisation for year - 1,890 1,890
At 31 March 2023 250,000 3,780 253,780
NET BOOK VALUE
At 31 March 2023 - 5,670 5,670
At 31 March 2022 - 7,560 7,560

Mark Clegg & Co Limited (Registered number: 06101848)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 33,915 25,477 148,927 5,413 213,732
Additions - - 89,079 540 89,619
Disposals (681 ) (12,891 ) (39,780 ) - (53,352 )
At 31 March 2023 33,234 12,586 198,226 5,953 249,999
DEPRECIATION
At 1 April 2022 28,928 25,477 122,952 1,565 178,922
Charge for year 1,247 - 35,589 1,964 38,800
Eliminated on disposal (681 ) (12,891 ) (39,780 ) - (53,352 )
At 31 March 2023 29,494 12,586 118,761 3,529 164,370
NET BOOK VALUE
At 31 March 2023 3,740 - 79,465 2,424 85,629
At 31 March 2022 4,987 - 25,975 3,848 34,810

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 47,857
Additions 89,079
Transfer to ownership (47,857 )
At 31 March 2023 89,079
DEPRECIATION
At 1 April 2022 38,286
Charge for year 17,816
Transfer to ownership (38,286 )
At 31 March 2023 17,816
NET BOOK VALUE
At 31 March 2023 71,263
At 31 March 2022 9,571

Mark Clegg & Co Limited (Registered number: 06101848)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 454,556 506,101
Other debtors 799,927 800,849
1,254,483 1,306,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 9) 20,700 2,689
Trade creditors 443,985 553,260
Taxation and social security 137,471 72,743
Other creditors 94,134 78,814
696,290 707,506

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 9) 35,090 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 20,700 2,689
Between one and five years 35,090 -
55,790 2,689

Non-cancellable operating leases
31.3.23 31.3.22
£    £   
Within one year 80,000 60,000
Between one and five years 160,000 180,000
240,000 240,000

Mark Clegg & Co Limited (Registered number: 06101848)

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 a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr M Clegg
Balance outstanding at start of year 628,251 651,040
Amounts advanced 67,486 68,711
Amounts repaid (80,930 ) (91,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 614,807 628,251

The advances are unsecured, interest free and repayable on demand.