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COMPANY REGISTRATION NUMBER: 04889150
Cleaver Thompson Limited
Filleted Unaudited Abridged Financial Statements
30 June 2023
Cleaver Thompson Limited
Abridged Financial Statements
Year Ended 30 June 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Cleaver Thompson Limited
Abridged Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed Assets
Tangible assets
6
21,524
20,538
Current Assets
Debtors
287,544
275,533
Cash at bank and in hand
327,073
336,111
---------
---------
614,617
611,644
Creditors: amounts falling due within one year
197,609
203,126
---------
---------
Net Current Assets
417,008
408,518
---------
---------
Total Assets Less Current Liabilities
438,532
429,056
Creditors: amounts falling due after more than one year
20,722
30,746
Provisions
Taxation including deferred tax
5,381
3,903
---------
---------
Net Assets
412,429
394,407
---------
---------
Capital and Reserves
Called up share capital
7
3,000
3,000
Profit and loss account
409,429
391,407
---------
---------
Shareholders Funds
412,429
394,407
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Cleaver Thompson Limited
Abridged Statement of Financial Position (continued)
30 June 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 22 February 2024 , and are signed on behalf of the board by:
A J Turner
A Botham
Director
Director
Mr S J Shaw
Director
Company registration number: 04889150
Cleaver Thompson Limited
Notes to the Abridged Financial Statements
Year Ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-7 King Street, Alfreton, Derbyshire, DE55 7AE.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Fee income represents revenue earned from the normal activities of the firm, exclusive of Value Added Tax. Revenue is recognised when the company has a right to consideration in exchange for the performance of its duties. The right to consideration is determined by the terms and conditions of the firm which form the contract under which the services are provided. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients less a suitable allowance to recognise the uncertainties remaining in the completion of the obligations. Contingent income is recognised only when the contingent element is assured. Unbilled revenue at the year end is included in prepayments and accrued income.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
10% reducing balance
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2022: 17 ).
5. Intangible assets
£
Cost
At 1 July 2022 and 30 June 2023
99,000
--------
Amortisation
At 1 July 2022 and 30 June 2023
99,000
--------
Carrying amount
At 30 June 2023
--------
At 30 June 2022
--------
6. Tangible assets
£
Cost
At 1 July 2022
81,544
Additions
6,251
Disposals
( 13,780)
--------
At 30 June 2023
74,015
--------
Depreciation
At 1 July 2022
61,006
Charge for the year
4,011
Disposals
( 12,526)
--------
At 30 June 2023
52,491
--------
Carrying amount
At 30 June 2023
21,524
--------
At 30 June 2022
20,538
--------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary B shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary C shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
3,000
3,000
3,000
3,000
-------
-------
-------
-------
8. Related party transactions
During the year dividends of £184,200 (2022: £245,800) were paid to companies which hold a participating interest in Cleaver Thompson Limited .