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Clutch and Service Centre Limited
Registered Number:05730013
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Clutch and Service Centre Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
05730013
As at 31 March 2023
Clutch and Service Centre Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
47,522
53,143
3
47,522
53,143
Current assets
Inventories
3,000
5,000
4
Trade and other receivables
26,047
31,925
5
29,599
Cash and cash equivalents
58,579
95,504
58,646
Trade and other payables: amounts falling due within one
year
(42,713)
(67,578)
6
15,933
27,926
Net current assets
Total assets less current liabilities
75,448
69,076
(4,498)
(4,432)
Provisions for liabilities
70,950
Net assets
64,644
Capital and reserves
Called up share capital
1
1
Retained earnings
70,949
64,643
70,950
64,644
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Martin Lee Wilkins Director
These financial statements were approved and authorised for issue by the Board on 18 December 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2023
Clutch and Service Centre Limited
Notes to the Financial Statements
Statutory Information
Clutch and Service Centre Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 05730013.
Registered address:
Unit 21
Meadow Mill Industrial Estate, Dixon Street
Kidderminster
England
DY10 1HH
The presentation currency is £ sterling.
This is the currency of the primary economic market in which the entity operates (its functional currency). All amounts
in these financial statements have been rounded to the nearest pound unless otherwise stated.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Goodwill
Goodwill was amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Property Improvements
25% Reducing balance
Plant and Machinery
25% Reducing balance
33% Straight line
Computer Equipment
25% Reducing balance
Motor Vehicles
25% Reducing balance
Furniture and Fittings
Government grants
Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Inventories
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs and purchases, costs of conversion and other costs incurred in bringing stock to its present location and condition.Cost is calculated using the first in first out method. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
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5
For the year ended 31 March 2023
Clutch and Service Centre Limited
Notes to the Financial Statements Continued
Deferred tax
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. 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.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2022
15,000
At 31 March 2023
15,000
Amortisation
At 01 April 2022
15,000
At 31 March 2023
15,000
Net book value
At 31 March 2023
-
At 31 March 2022
-
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6
For the year ended 31 March 2023
Clutch and Service Centre Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Motor
Vehicles
Plant and
Machinery
Property
Improvements
£
£
£
£
£
£
Cost or
valuation
At 01 April 2022
153,640
504
2,500
58,168
73,842
18,626
10,221
-
2,500
-
7,721
-
Additions
At 31 March 2023
18,626
58,168
5,000
504
163,861
81,563
Provision for depreciation and impairment
At 01 April 2022
100,497
504
2,167
46,282
38,251
13,293
Charge for year
15,842
-
708
2,972
10,828
1,334
At 31 March 2023
116,339
504
2,875
49,254
49,079
14,627
At 31 March 2023
Net book value
3,999
32,484
8,914
2,125
-
47,522
5,333
35,591
11,886
333
-
53,143
At 31 March 2022
4. Inventories
2022
2023
£
£
Stocks
5,000
3,000
5. Trade and other receivables
2022
2023
£
£
Trade debtors
24,902
23,266
Other debtors
7,023
2,781
26,047
31,925
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
34,993
16,595
Taxation and social security
30,816
24,401
Other creditors
1,769
1,717
67,578
42,713
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7
For the year ended 31 March 2023
Clutch and Service Centre Limited
Notes to the Financial Statements Continued
7. Average number of persons employed
During the year the average number of employees was 4 (2022 : 4)
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