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REGISTERED NUMBER: 10663624 (England and Wales)















CLIPSHAM STONE CUTTING COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


CLIPSHAM STONE CUTTING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs S G Nottingham
M G Nottingham





REGISTERED OFFICE: 26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT





REGISTERED NUMBER: 10663624 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 53,389 90,933

CURRENT ASSETS
Inventories 45,000 -
Debtors 5 78,174 206,196
Cash at bank 19,109 5,288
142,283 211,484
CREDITORS
Amounts falling due within one year 6 264,943 178,599
NET CURRENT (LIABILITIES)/ASSETS (122,660 ) 32,885
TOTAL ASSETS LESS CURRENT
LIABILITIES

(69,271

)

123,818

CREDITORS
Amounts falling due after more than
one year

7

(93,161

)

(166,949

)

PROVISIONS FOR LIABILITIES - (13,210 )
NET LIABILITIES (162,432 ) (56,341 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (162,532 ) (56,441 )
SHAREHOLDERS' FUNDS (162,432 ) (56,341 )

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.

CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by:




Mrs S G Nottingham - Director



M G Nottingham - Director


CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Clipsham Stone Cutting Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on a going concern basis but there is a material uncertainty about the company's ability to continue as a going concern due to the amount owed in taxes and social security. The repayment of this debt is dependent on the support of HMRC not requesting immediate payment of all outstanding liabilities.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 7.5% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and 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 statement of financial position date.


CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)

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 statement of financial position. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2022 273,384
Additions 14,367
Disposals (118,143 )
At 31 March 2023 169,608
DEPRECIATION
At 1 April 2022 182,451
Charge for year 16,587
Eliminated on disposal (82,819 )
At 31 March 2023 116,219
NET BOOK VALUE
At 31 March 2023 53,389
At 31 March 2022 90,933

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,937 35,799
Directors' current accounts 2,206 110,424
Tax 49,006 57,060
Prepayments 2,025 2,913
78,174 206,196

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,264 30,900
Hire purchase contracts 18,866 27,211
Trade creditors 16,169 10,426
Taxation 30,348 35,718
Other taxes and social security 157,946 68,408
Accrued expenses 6,350 5,936
264,943 178,599

CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 39,627 44,764
Bank loans - 2-5 years 15,000 88,353
Bank loans more 5 yr by instal 27,286 -
Hire purchase contracts 11,248 33,832
93,161 166,949

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 27,286 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 30,114 61,043

The hire purchase creditor is secured on the asset to which it relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

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:

2023 2022
£    £   
Mrs S G Nottingham
Balance outstanding at start of year 55,031 75,083
Amounts repaid (54,933 ) (20,052 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 98 55,031

CLIPSHAM STONE CUTTING COMPANY LIMITED (REGISTERED NUMBER: 10663624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

M G Nottingham
Balance outstanding at start of year 55,393 75,706
Amounts repaid (53,285 ) (20,313 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,108 55,393

Loans to directors are interest free and repayable on demand.