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COMPANY REGISTRATION NUMBER: 06296479
CLARK BUSINESS RECOVERY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2023
CLARK BUSINESS RECOVERY LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
6,250
7,509
CURRENT ASSETS
Debtors
6
440,879
564,137
Cash at bank and in hand
104,979
201,261
---------
---------
545,858
765,398
CREDITORS: amounts falling due within one year
7
( 144,583)
( 164,854)
---------
---------
NET CURRENT ASSETS
401,275
600,544
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
407,525
608,053
PROVISIONS
Taxation including deferred tax
( 1,963)
( 2,202)
---------
---------
NET ASSETS
405,562
605,851
---------
---------
CAPITAL AND RESERVES
Called up share capital
8
111
108
Profit and loss account
405,451
605,743
---------
---------
SHAREHOLDERS FUNDS
405,562
605,851
---------
---------
These 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 statement of comprehensive income has not been delivered.
For the year ending 31 August 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 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 financial statements .
CLARK BUSINESS RECOVERY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 30 January 2024 , and are signed on behalf of the board by:
D N Clark
Director
Company registration number: 06296479
CLARK BUSINESS RECOVERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 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 Unit 8, Fusion Court, Aberford Road, Garforth, Leeds, LS25 2GH, West Yorkshire.
2. STATEMENT OF COMPLIANCE
These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services provided, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
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:
Leasehold Property improvements
-
20% straight line
Fixtures and fittings
-
15% reducing balance
Office Equipment
-
33% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
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 entity after deducting all of its financial liabilities
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 11 (2022: 9 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 September 2022 and 31 August 2023
29,615
42,624
72,239
--------
--------
--------
Depreciation
At 1 September 2022
22,832
41,898
64,730
Charge for the year
1,017
242
1,259
--------
--------
--------
At 31 August 2023
23,849
42,140
65,989
--------
--------
--------
Carrying amount
At 31 August 2023
5,766
484
6,250
--------
--------
--------
At 31 August 2022
6,783
726
7,509
--------
--------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
57,776
78,161
Other debtors
383,103
485,976
---------
---------
440,879
564,137
---------
---------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,917
36,647
Corporation tax
28,424
72,909
Social security and other taxes
43,003
4,818
Other creditors
68,239
50,480
---------
---------
144,583
164,854
---------
---------
8. CALLED UP SHARE CAPITAL
During the year the company allotted three ordinary £1 shares at par.
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES