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REGISTERED NUMBER: 12801439 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

Clip N Climb Thanet Ltd

Clip N Climb Thanet Ltd (Registered number: 12801439)

Contents of the Financial Statements
for the year ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Clip N Climb Thanet Ltd

Company Information
for the year ended 31 August 2023







DIRECTORS: C F Chambers
T S Hickman
M S Nijar





REGISTERED OFFICE: Unit B4
East Kent Retail Park
Westwood Road
Broadstairs
Kent
CT10 2RQ





REGISTERED NUMBER: 12801439 (England and Wales)





ACCOUNTANTS: MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG

Clip N Climb Thanet Ltd (Registered number: 12801439)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,000 12,000
Tangible assets 5 32,580 37,474
40,580 49,474

CURRENT ASSETS
Debtors 6 17,746 4,267
Cash at bank and in hand 25 21,464
17,771 25,731
CREDITORS
Amounts falling due within one year 7 195,797 166,086
NET CURRENT LIABILITIES (178,026 ) (140,355 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(137,446

)

(90,881

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (137,546 ) (90,981 )
SHAREHOLDERS' FUNDS (137,446 ) (90,881 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Clip N Climb Thanet Ltd (Registered number: 12801439)

Balance Sheet - continued
31 August 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 2 November 2023 and were signed on its behalf by:




C F Chambers - Director



T S Hickman - Director


Clip N Climb Thanet Ltd (Registered number: 12801439)

Notes to the Financial Statements
for the year ended 31 August 2023


1. STATUTORY INFORMATION

Clip N Climb Thanet Ltd 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 2022, is being amortised evenly over its estimated useful life of four 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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.

Hire purchase and leasing commitments
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 27 (2022 - 20 ) .

Clip N Climb Thanet Ltd (Registered number: 12801439)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 16,000
AMORTISATION
At 1 September 2022 4,000
Charge for year 4,000
At 31 August 2023 8,000
NET BOOK VALUE
At 31 August 2023 8,000
At 31 August 2022 12,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 44,085
Additions 3,819
At 31 August 2023 47,904
DEPRECIATION
At 1 September 2022 6,611
Charge for year 8,713
At 31 August 2023 15,324
NET BOOK VALUE
At 31 August 2023 32,580
At 31 August 2022 37,474

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,771 4,267
VAT 571 -
Prepayments and accrued income 10,404 -
17,746 4,267

Clip N Climb Thanet Ltd (Registered number: 12801439)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,669 -
Other loans - GPM2 Design Loan 62,000 62,000
Trade creditors 32,728 9,238
Social security and other taxes 5,971 3,391
VAT - 9,281
Net Wages 9,729 10,576
Directors' current accounts 70,200 70,200
Accrued expenses 1,500 1,400
195,797 166,086

Clip N Climb Thanet Ltd

Report of the Accountants to the Directors of
Clip N Climb Thanet Ltd


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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG


2 November 2023