Company Registration No. 13644972 (England and Wales)
Clover Access Systems Limited
Unaudited accounts
for the year ended 30 September 2023
Clover Access Systems Limited
Unaudited accounts
Contents
Clover Access Systems Limited
Company Information
for the year ended 30 September 2023
Directors
Mrs J L Johnson
Mr L J Johnson
Company Number
13644972 (England and Wales)
Registered Office
47 Poplar Avenue
Townville
Castleford
Yorkshire
WF10 3QJ
United Kingdom
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Clover Access Systems Limited
Statement of financial position
as at 30 September 2023
Tangible assets
255,450
154,490
Inventories
200,000
50,000
Cash at bank and in hand
19,379
46,457
Creditors: amounts falling due within one year
(581,185)
(475,664)
Net current liabilities
(158,582)
(77,664)
Total assets less current liabilities
96,868
76,826
Creditors: amounts falling due after more than one year
(74,667)
(54,962)
Called up share capital
2
2
Profit and loss account
22,199
21,862
Shareholders' funds
22,201
21,864
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by
Mr L J Johnson
Director
Company Registration No. 13644972
Clover Access Systems Limited
Notes to the Accounts
for the year ended 30 September 2023
Clover Access Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 13644972. The registered office is 47 Poplar Avenue, Townville, Castleford, Yorkshire, WF10 3QJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
25% cost
Computer equipment
25% cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Clover Access Systems Limited
Notes to the Accounts
for the year ended 30 September 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2022
72,509
98,554
280
-
171,343
Additions
22,795
121,365
3,644
1,652
149,456
At 30 September 2023
95,304
219,919
3,924
1,652
320,799
At 1 October 2022
12,104
4,731
18
-
16,853
Charge for the year
14,421
32,952
814
309
48,496
At 30 September 2023
26,525
37,683
832
309
65,349
At 30 September 2023
68,779
182,236
3,092
1,343
255,450
At 30 September 2022
60,405
93,823
262
-
154,490
Amounts falling due within one year
Trade debtors
145,379
300,943
Clover Access Systems Limited
Notes to the Accounts
for the year ended 30 September 2023
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
20,508
11,189
Trade creditors
161,702
276,967
Amounts owed to group undertakings and other participating interests
143,725
104,509
Taxes and social security
254,030
45,719
Loans from directors
-
11,064
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
74,667
54,962
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Transactions with related parties
At 30th September 2023, Clover Access Systems Limited owed £143,725 (2022: £104,509) to Clover Stone & Brickwork Limited.
These sums are interest free and payable on demand.
10
Average number of employees
During the year the average number of employees was 12 (2022: 8).