Registration number:
Clifton Canvas Developments Limited
for the Year Ended 30 June 2023
Clifton Canvas Developments Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Clifton Canvas Developments Limited
Company Information
Director |
J A Tolfree |
Company secretary |
K J Tolfree |
Registered office |
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Accountants |
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Clifton Canvas Developments Limited
(Registration number: 03419551)
Balance Sheet
30 June 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
163 |
163 |
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Share premium reserve |
382,085 |
382,085 |
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Retained earnings |
418,222 |
504,876 |
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Shareholders' funds |
800,470 |
887,124 |
Clifton Canvas Developments Limited
(Registration number: 03419551)
Balance Sheet
30 June 2023
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.
Director's responsibilities:
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The director acknowledges his 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
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Clifton Canvas Developments Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
Clifton Canvas Developments Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2023
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax and is recognised in profit or loss.
The current corporation 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.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet 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 |
33.3% per annum straight line |
Fixtures and fittings |
25% per annum reducing balance |
Motor vehicles |
25% per annum reducing balance |
Plant and machinery |
25% per annum reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Clifton Canvas Developments Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business and are are recognised initially at the transaction price.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest expense is recognised in the profit and loss account in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Clifton Canvas Developments Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2023
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2022 |
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Additions |
- |
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At 30 June 2023 |
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Depreciation |
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At 1 July 2022 |
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Charge for the year |
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At 30 June 2023 |
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Carrying amount |
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At 30 June 2023 |
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- |
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At 30 June 2022 |
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Clifton Canvas Developments Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2023
Stocks |
2023 |
2022 |
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Other inventories |
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Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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