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REGISTERED NUMBER: 06163860 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 July 2023

for

A F Clough Ltd

A F Clough Ltd (Registered number: 06163860)

Contents of the Financial Statements
For The Year Ended 31 July 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


A F Clough Ltd

Company Information
For The Year Ended 31 July 2023







DIRECTORS: Mr A F Clough
Mr T Clough
Mrs J Holden





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 06163860 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

A F Clough Ltd (Registered number: 06163860)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 620,437 503,217
Investments 6 880,057 880,057
1,500,494 1,383,274

CURRENT ASSETS
Stocks 113,774 81,351
Debtors 7 3,107,185 2,431,250
Cash at bank 78,107 620,747
3,299,066 3,133,348
CREDITORS
Amounts falling due within one year 8 405,984 482,557
NET CURRENT ASSETS 2,893,082 2,650,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,393,576

4,034,065

CREDITORS
Amounts falling due after more than one
year

9

(671,323

)

(1,049,003

)

PROVISIONS FOR LIABILITIES 11 (50,778 ) (27,686 )
NET ASSETS 3,671,475 2,957,376

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 3,671,375 2,957,276
SHAREHOLDERS' FUNDS 3,671,475 2,957,376

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

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

A F Clough Ltd (Registered number: 06163860)

Statement of Financial Position - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:





Mr A F Clough - Director


A F Clough Ltd (Registered number: 06163860)

Notes to the Financial Statements
For The Year Ended 31 July 2023


1. STATUTORY INFORMATION

A F Clough 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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 2014, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings leasehold - not depreciated
Plant and machinery - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

A F Clough Ltd (Registered number: 06163860)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 balance sheet. 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.

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.

A F Clough Ltd (Registered number: 06163860)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been fully amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 321,779
AMORTISATION
At 1 August 2022
and 31 July 2023 321,779
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Land and Improvements
buildings to Plant and
leasehold property machinery Totals
£    £    £    £   
COST
At 1 August 2022 348,660 15,000 642,162 1,005,822
Additions - 82,626 78,132 160,758
At 31 July 2023 348,660 97,626 720,294 1,166,580
DEPRECIATION
At 1 August 2022 - - 502,605 502,605
Charge for year - - 43,538 43,538
At 31 July 2023 - - 546,143 546,143
NET BOOK VALUE
At 31 July 2023 348,660 97,626 174,151 620,437
At 31 July 2022 348,660 15,000 139,557 503,217

A F Clough Ltd (Registered number: 06163860)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 August 2022 125,110
Additions 21,600
Transfer to ownership (5,976 )
At 31 July 2023 140,734
DEPRECIATION
At 1 August 2022 68,190
Charge for year 15,313
Transfer to ownership (4,018 )
At 31 July 2023 79,485
NET BOOK VALUE
At 31 July 2023 61,249
At 31 July 2022 56,920

6. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 880,057 880,057

Additional information is as follows:
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 706,204
NET BOOK VALUE
At 31 July 2023 706,204
At 31 July 2022 706,204

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Gemstones 173,853 173,853

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 913,592 770,034
Other debtors 2,193,593 1,661,216
3,107,185 2,431,250

A F Clough Ltd (Registered number: 06163860)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 46,201 49,065
Hire purchase contracts 31,027 25,918
Trade creditors 125,025 95,932
Taxation and social security 195,506 299,720
Other creditors 8,225 11,922
405,984 482,557

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 16,056 29,683
Other creditors 655,267 1,019,320
671,323 1,049,003

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 47,083 55,601

Finance leases and hire purchase contracts are secured on the assets concerned.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 50,778 27,686

Deferred
tax
£   
Balance at 1 August 2022 27,686
Charge to Statement of Income and Retained Earnings during year 23,092
Balance at 31 July 2023 50,778

12. CALLED UP SHARE CAPITAL

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