Claviga Limited 03415693 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Management consultancy Digita Accounts Production Advanced 6.30.9574.0 true 03415693 2022-07-01 2023-06-30 03415693 2023-06-30 03415693 core:CurrentFinancialInstruments 2023-06-30 03415693 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 03415693 core:FurnitureFittingsToolsEquipment 2023-06-30 03415693 core:LandBuildings 2023-06-30 03415693 bus:SmallEntities 2022-07-01 2023-06-30 03415693 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 03415693 bus:FullAccounts 2022-07-01 2023-06-30 03415693 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 03415693 bus:RegisteredOffice 2022-07-01 2023-06-30 03415693 bus:Director3 2022-07-01 2023-06-30 03415693 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03415693 core:Buildings 2022-07-01 2023-06-30 03415693 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 03415693 core:LandBuildings 2022-07-01 2023-06-30 03415693 core:OfficeEquipment 2022-07-01 2023-06-30 03415693 countries:EnglandWales 2022-07-01 2023-06-30 03415693 2022-06-30 03415693 core:FurnitureFittingsToolsEquipment 2022-06-30 03415693 core:LandBuildings 2022-06-30 03415693 2021-01-01 2022-06-30 03415693 2022-06-30 03415693 core:CurrentFinancialInstruments 2022-06-30 03415693 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 03415693 core:FurnitureFittingsToolsEquipment 2022-06-30 03415693 core:LandBuildings 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 03415693

Prepared for the registrar

Claviga Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Claviga Limited

(Registration number: 03415693)
Balance Sheet as at 30 June 2023

Note

30 June
2023
£

30 June
2022
£

Fixed assets

 

Tangible assets

4

11,504

13,227

Current assets

 

Debtors

5

4,996

312

Investments

6

58,236

52,639

Cash at bank and in hand

 

26,654

59,000

 

89,886

111,951

Creditors: Amounts falling due within one year

7

(16,398)

(24,894)

Net current assets

 

73,488

87,057

Net assets

 

84,992

100,284

Capital and reserves

 

Called up share capital

2,700

2,700

Share premium reserve

7,500

7,500

Capital redemption reserve

9,800

9,800

Profit and loss account

64,992

80,284

Shareholders' funds

 

84,992

100,284

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 11 March 2024 and signed on its behalf by:
 

A J Keck
Director

   
     
 

Claviga Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Office building

10 years reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Claviga Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 1).

 

Claviga Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

 

4

Tangible assets

Office building
£

Office equipment
 £

Total
£

Cost

At 1 July 2022

21,112

7,056

28,168

At 30 June 2023

21,112

7,056

28,168

Depreciation

At 1 July 2022

10,559

4,382

14,941

Charge for the period

1,055

668

1,723

At 30 June 2023

11,614

5,050

16,664

Carrying amount

At 30 June 2023

9,498

2,006

11,504

At 30 June 2022

10,553

2,674

13,227

 

5

Debtors

Note

30 June 2023
 £

30 June 2022
 £

Director's loan account

8

4,996

-

Other debtors

 

-

160

Prepayments

 

-

152

 

4,996

312

 

6

Current asset investments

30 June 2023
£

30 June 2022
£

Other investments

58,236

52,639

Current asset investments represents an investment fund held at market rate. The cost of the investment was £43,937 (2022 - £41,900). At the balance sheet date the fund was revalued to £58,236 (2022 - £52,639), with £3,560 (2022 - £(7,446)) being recognised as a fair value movement to the profit and loss in accordance with the provision of FRS102.

 

Claviga Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

 

7

Creditors

Note

30 June 2023
 £

30 June 2022
 £

Due within one year

 

Trade creditors

 

14,000

-

Loan account

8

-

22,184

Accrued expenses

 

2,398

2,710

 

16,398

24,894

 

8

Related party transactions

The loan of £22,184 owed to the estate of A G Keck was cleared during the year. No interest was charged in the year.

At 30 June 2023, the company was owed £4,996 (2022 - £nil) by Mrs S Keck in the form of a director's loan account. The loan is unsecured, repayable on demand and no interest was charged in the year.