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Company No: 00663363 (England and Wales)

W CLEARY LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

W CLEARY LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

W CLEARY LIMITED

BALANCE SHEET

As at 30 November 2023
W CLEARY LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 152,262 119,534
152,262 119,534
Current assets
Stocks 4 25,000 25,000
Debtors 5 108,648 83,440
Cash at bank and in hand 442,525 424,440
576,173 532,880
Creditors: amounts falling due within one year 6 ( 80,139) ( 79,723)
Net current assets 496,034 453,157
Total assets less current liabilities 648,296 572,691
Provision for liabilities ( 13,771) ( 5,623)
Net assets 634,525 567,068
Capital and reserves
Called-up share capital 196 196
Profit and loss account 634,329 566,872
Total shareholder's funds 634,525 567,068

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of W Cleary Limited (registered number: 00663363) were approved and authorised for issue by the Board of Directors on 11 March 2024. They were signed on its behalf by:

D Cleary
Director
W CLEARY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
W CLEARY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W Cleary Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Old Forge Road, Ferndown Industrial Estate, Wimborne, BH21 7RR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements not depreciated
Plant and machinery 6.67 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 6.67 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 December 2022 87,596 2,784 445,078 7,821 62,202 44,606 650,087
Additions 0 0 37,184 0 7,595 2,138 46,917
At 30 November 2023 87,596 2,784 482,262 7,821 69,797 46,744 697,004
Accumulated depreciation
At 01 December 2022 0 0 427,577 7,666 52,859 42,451 530,553
Charge for the financial year 0 0 9,441 38 2,367 2,343 14,189
At 30 November 2023 0 0 437,018 7,704 55,226 44,794 544,742
Net book value
At 30 November 2023 87,596 2,784 45,244 117 14,571 1,950 152,262
At 30 November 2022 87,596 2,784 17,501 155 9,343 2,155 119,534

4. Stocks

2023 2022
£ £
Stocks 25,000 25,000

5. Debtors

2023 2022
£ £
Trade debtors 99,797 76,947
Other debtors 8,851 6,493
108,648 83,440

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 14,761 14,670
Taxation and social security 49,774 51,194
Other creditors 15,604 13,859
80,139 79,723