Registered number
03158114
Claverdon Cartridges Limited
Report and Accounts
28 February 2023
Collins
Chartered Accountants
West Midlands
Claverdon Cartridges Limited
Registered number: 03158114
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 100,001 100,461
Current assets
Stocks 139,000 119,000
Debtors 4 28,868 28,894
167,868 147,894
Creditors: amounts falling due within one year 5 (299,153) (271,761)
Net current liabilities (131,285) (123,867)
Total assets less current liabilities (31,284) (23,406)
Creditors: amounts falling due after more than one year 6 (23,046) (32,695)
Net liabilities (54,330) (56,101)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 48,250 48,250
Profit and loss account (102,680) (104,451)
Shareholders' funds (54,330) (56,101)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D A Evans
Director
Approved by the board on 20 November 2023
Claverdon Cartridges Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and Buildings Nil
Plant and machinery 25% of net book value
Stocks
Stocks are measured at the lower of cost and estimated selling price. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Chicken Shed Total
£ £ £ £
Cost
At 1 March 2022 60,000 6,970 40,000 106,970
At 28 February 2023 60,000 6,970 40,000 106,970
Depreciation
At 1 March 2022 - 6,509 - 6,509
Charge for the year - 460 - 460
At 28 February 2023 - 6,969 - 6,969
Net book value
At 28 February 2023 60,000 1 40,000 100,001
At 28 February 2022 60,000 461 40,000 100,461
4 Debtors 2023 2022
£ £
Trade debtors 14,934 20,684
VAT receivable 13,934 8,210
28,868 28,894
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,011 12,399
Trade creditors 38,308 42,899
Directors loans 241,034 213,713
Accruals and deferred income 2,800 2,750
299,153 271,761
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,046 32,695
7 Revaluation reserve 2023 2022
£ £
At 1 March 2022 48,250 48,250
At 28 February 2023 48,250 48,250
8 Other information
Claverdon Cartridges Limited is a private company limited by shares and incorporated in England. Its registered office is:
Claverdon Hall Farm
Lye Green Road
Claverdon
Warwickshire
CV35 8HJ
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