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CLOAN INDUSTRIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2023






CLOAN INDUSTRIES LIMITED (REGISTERED NUMBER: 09152654)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

CLOAN INDUSTRIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: D B Hull





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate, Kempston
Bedford
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 09152654 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

CLOAN INDUSTRIES LIMITED (REGISTERED NUMBER: 09152654)

BALANCE SHEET
31ST JULY 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,357 4,312
Investments 5 195,386 114,988
197,743 119,300

CURRENT ASSETS
Debtors 6 2,406 435
Cash at bank 678,145 759,262
680,551 759,697
CREDITORS
Amounts falling due within one year 7 3,588 3,543
NET CURRENT ASSETS 676,963 756,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

874,706

875,454

PROVISIONS FOR LIABILITIES 9,559 8,273
NET ASSETS 865,147 867,181

CAPITAL AND RESERVES
Called up share capital 1 1
Non-distributable reserves 8 28,678 22,363
Retained earnings 836,468 844,817
SHAREHOLDERS' FUNDS 865,147 867,181

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CLOAN INDUSTRIES LIMITED (REGISTERED NUMBER: 09152654)

BALANCE SHEET - continued
31ST 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th January 2024 and were signed by:





D B Hull - Director


CLOAN INDUSTRIES LIMITED (REGISTERED NUMBER: 09152654)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Cloan Industries Limited 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 as modified by the revaluation of certain assets.

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

CLOAN INDUSTRIES LIMITED (REGISTERED NUMBER: 09152654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st August 2022 4,740 7,788 12,528
Additions 412 - 412
At 31st July 2023 5,152 7,788 12,940
DEPRECIATION
At 1st August 2022 2,680 5,536 8,216
Charge for year 1,000 1,367 2,367
At 31st July 2023 3,680 6,903 10,583
NET BOOK VALUE
At 31st July 2023 1,472 885 2,357
At 31st July 2022 2,060 2,252 4,312

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st August 2022 114,988
Additions 71,874
Revaluations 8,419
Dividends received 105
At 31st July 2023 195,386
NET BOOK VALUE
At 31st July 2023 195,386
At 31st July 2022 114,988

Cost or valuation at 31st July 2023 is represented by:

Other
investments
£   
Valuation in 2020 (8,609 )
Valuation in 2021 23,547
Valuation in 2022 16,481
Valuation in 2023 8,419
Cost 155,548
195,386

CLOAN INDUSTRIES LIMITED (REGISTERED NUMBER: 09152654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Tax - 47
Prepayments and accrued income 2,406 388
2,406 435

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Social security and other taxes 1 5
Directors' current accounts 2,587 2,588
Accruals and deferred income 1,000 950
3,588 3,543

8. RESERVES
Non-distributable
reserves
£   
At 1st August 2022 22,363
Transfer from revaluation 6,315

At 31st July 2023 28,678

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CLOAN INDUSTRIES LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cloan Industries Limited for the year ended 31st July 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Cloan Industries Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cloan Industries Limited and state those matters that we have agreed to state to the director of Cloan Industries Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cloan Industries Limited and its director for our work or for this report.

It is your duty to ensure that Cloan Industries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cloan Industries Limited. You consider that Cloan Industries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cloan Industries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


24th January 2024