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REGISTERED NUMBER: 01332056 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

CLIFF ELECTRONIC COMPONENTS LIMITED

CLIFF ELECTRONIC COMPONENTS LIMITED (REGISTERED NUMBER: 01332056)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CLIFF ELECTRONIC COMPONENTS LIMITED

Company Information
for the Year Ended 30 September 2023







DIRECTORS: J A Hall
Mrs C A M Jones
R W Taylor





SECRETARY: Mrs C A M Jones





REGISTERED OFFICE: 76 Holmethorpe Ave,
Holmethorpe Industrial Estate
Redhill,
Surrey.
RH1 2PF





REGISTERED NUMBER: 01332056 (England and Wales)





ACCOUNTANTS: Lees Chartered Accountants
The Granary
Brewer Street
Bletchingley
Surrey
RH1 4QP

CLIFF ELECTRONIC COMPONENTS LIMITED (REGISTERED NUMBER: 01332056)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 251,234 248,472

CURRENT ASSETS
Stocks 1,147,649 1,078,359
Debtors 5 912,882 578,352
Cash at bank 2,721,074 2,362,425
4,781,605 4,019,136
CREDITORS
Amounts falling due within one year 6 1,601,268 978,023
NET CURRENT ASSETS 3,180,337 3,041,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,431,571

3,289,585

PROVISIONS FOR LIABILITIES 7,701 1,267
NET ASSETS 3,423,870 3,288,318

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Capital redemption reserve 500 500
Retained earnings 3,421,370 3,285,818
3,423,870 3,288,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CLIFF ELECTRONIC COMPONENTS LIMITED (REGISTERED NUMBER: 01332056)

Statement of Financial Position - continued
30 September 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:





J A Hall - Director


CLIFF ELECTRONIC COMPONENTS LIMITED (REGISTERED NUMBER: 01332056)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

Cliff Electronic Components 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset , the company estimates the recoverable amount of the cash-generating unit to which the assets belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use . In assessing value in use, the estimated cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an assets is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount . An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount , in which case the impairment loss is treated as a revaluation decrease.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and where applicable direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.

CLIFF ELECTRONIC COMPONENTS LIMITED (REGISTERED NUMBER: 01332056)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its Financial Instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 41 ) .

CLIFF ELECTRONIC COMPONENTS LIMITED (REGISTERED NUMBER: 01332056)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 374,948 607,550 982,498
Additions - 35,314 35,314
At 30 September 2023 374,948 642,864 1,017,812
DEPRECIATION
At 1 October 2022 215,125 518,901 734,026
Charge for year 9,374 23,178 32,552
At 30 September 2023 224,499 542,079 766,578
NET BOOK VALUE
At 30 September 2023 150,449 100,785 251,234
At 30 September 2022 159,823 88,649 248,472

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 885,411 554,136
Other debtors 27,471 24,216
912,882 578,352

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 646,114 458,401
Taxation and social security 124,483 120,785
Other creditors 830,671 398,837
1,601,268 978,023

7. RELATED PARTY DISCLOSURES

As at 30 September 2023, the company owed £58,464 (2022: £86,681) to the directors of the company.