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COMPANY REGISTRATION NUMBER: 10827901
Clement Carpentry Ltd
Filleted Unaudited Financial Statements
30 June 2023
Clement Carpentry Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
4,351
5,885
Current assets
Debtors
6
503
936
Cash at bank and in hand
3,897
8,621
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
4,400
9,557
Creditors: amounts falling due within one year
7
4,469
7,595
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
Net current (liabilities)/assets
( 69)
1,962
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
Total assets less current liabilities
4,282
7,847
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
Net assets
4,282
7,847
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
Clement Carpentry Ltd
Statement of Financial Position (continued)
30 June 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
4,182
7,747
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
Shareholder funds
4,282
7,847
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
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 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:
- The member has 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 .
These financial statements were approved by the board of directors and authorised for issue on 2 June 2024 , and are signed on behalf of the board by:
J Clement
Director
Company registration number: 10827901
Clement Carpentry Ltd
Notes to the Financial Statements
Year ended 30 June 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 5 Cornmoor Crescent, East Huntspill, Highbridge, Somerset, TA9 3NY. The principal activity of the company during the year was Carpentry services.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Plant and machinery
-
25% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2022
2,502
11,583
1,396
15,481
Additions
290
290
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄ
At 30 June 2023
2,502
11,583
1,686
15,771
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
Depreciation
At 1 July 2022
2,502
6,414
680
9,596
Charge for the year
1,293
531
1,824
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄÄ
At 30 June 2023
2,502
7,707
1,211
11,420
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
Carrying amount
At 30 June 2023
3,876
475
4,351
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
At 30 June 2022
5,169
716
5,885
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
6. Debtors
2023
2022
£
£
Other debtors
503
936
ÍÍÍÍ
ÍÍÍÍ
7. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,075
1,075
Corporation tax
2,378
4,424
Director loan accounts
1,016
684
Other creditors
1,412
ÄÄÄÄÄÄÄ
ÄÄÄÄÄÄÄ
4,469
7,595
ÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍ
8. Director s' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Director
( 684)
( 332)
( 1,016)
ÍÍÍÍ
ÍÍÍÍ
ÍÍÍÍÍÍÍ
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Director
( 36,883)
36,199
( 684)
ÍÍÍÍÍÍÍÍ
ÍÍÍÍÍÍÍÍ
ÍÍÍÍ