IRIS Accounts Production v24.1.4.33 05775621 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Fair value model 77135 77135 110295 108000 79430 77135 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057756212022-12-31057756212023-12-31057756212023-01-012023-12-31057756212021-12-31057756212022-01-012022-12-31057756212022-12-3105775621ns15:EnglandWales2023-01-012023-12-3105775621ns14:PoundSterling2023-01-012023-12-3105775621ns10:Director12023-01-012023-12-3105775621ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105775621ns10:SmallEntities2023-01-012023-12-3105775621ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105775621ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105775621ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105775621ns10:FullAccounts2023-01-012023-12-310577562112023-01-012023-12-3105775621ns10:Director3432022-12-3105775621ns10:Director3432021-12-3105775621ns10:Director3432023-01-012023-12-3105775621ns10:Director3432023-12-3105775621ns10:Director3432022-12-3105775621ns10:Director22023-01-012023-12-3105775621ns10:Director32023-01-012023-12-3105775621ns10:Director42023-01-012023-12-3105775621ns10:RegisteredOffice2023-01-012023-12-3105775621ns5:CurrentFinancialInstruments2023-12-3105775621ns5:CurrentFinancialInstruments2022-12-3105775621ns5:Non-currentFinancialInstruments2023-12-3105775621ns5:Non-currentFinancialInstruments2022-12-3105775621ns5:ShareCapital2023-12-3105775621ns5:ShareCapital2022-12-3105775621ns5:RetainedEarningsAccumulatedLosses2023-12-3105775621ns5:RetainedEarningsAccumulatedLosses2022-12-3105775621ns5:NetGoodwill2023-01-012023-12-3105775621ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105775621ns5:ComputerSoftware2023-01-012023-12-3105775621ns5:PlantMachinery2023-01-012023-12-3105775621ns5:NetGoodwill2022-12-3105775621ns5:IntangibleAssetsOtherThanGoodwill2022-12-3105775621ns5:NetGoodwill2023-12-3105775621ns5:IntangibleAssetsOtherThanGoodwill2023-12-3105775621ns5:NetGoodwill2022-12-3105775621ns5:IntangibleAssetsOtherThanGoodwill2022-12-3105775621ns5:PlantMachinery2022-12-3105775621ns5:PlantMachinery2023-12-3105775621ns5:PlantMachinery2022-12-3105775621ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3105775621ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3105775621ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3105775621ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3105775621ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105775621ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105775621ns5:Secured2023-12-3105775621ns5:Secured2022-12-3105775621ns10:Director222022-12-3105775621ns10:Director222021-12-3105775621ns10:Director222023-01-012023-12-3105775621ns10:Director222022-01-012022-12-3105775621ns10:Director222023-12-3105775621ns10:Director222022-12-31
REGISTERED NUMBER: 05775621 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

The Clever Baggers Limited

The Clever Baggers Limited (Registered number: 05775621)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Clever Baggers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: V Lacey-Johnson
Mrs S L Lacey-Johnson
D Davies
Mrs E Smith





REGISTERED OFFICE: 5 Four Crosses Business Park
Llanymynech
Powys
SY22 6ST





REGISTERED NUMBER: 05775621 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

The Clever Baggers Limited (Registered number: 05775621)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1,308 2,237
Tangible assets 6 366,992 477,689
Investment property 7 195,860 195,860
564,160 675,786

CURRENT ASSETS
Stocks 279,940 321,637
Debtors 8 212,782 223,739
Cash at bank and in hand 31,489 47,506
524,211 592,882
CREDITORS
Amounts falling due within one year 9 319,909 246,195
NET CURRENT ASSETS 204,302 346,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

768,462

1,022,473

CREDITORS
Amounts falling due after more than one
year

10

(201,193

)

(357,568

)

PROVISIONS FOR LIABILITIES (89,664 ) (46,756 )
NET ASSETS 477,605 618,149

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 477,505 618,049
SHAREHOLDERS' FUNDS 477,605 618,149

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

The Clever Baggers Limited (Registered number: 05775621)

Balance Sheet - continued
31 December 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 24 July 2024 and were signed on its behalf by:





D Davies - Director


The Clever Baggers Limited (Registered number: 05775621)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

The Clever Baggers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been amortised over 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


The Clever Baggers Limited (Registered number: 05775621)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 23 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 165,470 3,715 169,185
AMORTISATION
At 1 January 2023 165,470 1,478 166,948
Charge for year - 929 929
At 31 December 2023 165,470 2,407 167,877
NET BOOK VALUE
At 31 December 2023 - 1,308 1,308
At 31 December 2022 - 2,237 2,237

The Clever Baggers Limited (Registered number: 05775621)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,277,276
Additions 18,526
Disposals (3,968 )
At 31 December 2023 1,291,834
DEPRECIATION
At 1 January 2023 799,587
Charge for year 129,223
Eliminated on disposal (3,968 )
At 31 December 2023 924,842
NET BOOK VALUE
At 31 December 2023 366,992
At 31 December 2022 477,689

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 211,411
DEPRECIATION
At 1 January 2023 59,170
Charge for year 35,955
Reclassification/transfer (6,720 )
At 31 December 2023 88,405
NET BOOK VALUE
At 31 December 2023 123,006
At 31 December 2022 152,241

The Clever Baggers Limited (Registered number: 05775621)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 195,860
NET BOOK VALUE
At 31 December 2023 195,860
At 31 December 2022 195,860

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 62,908 64,098
Other debtors 149,874 159,641
212,782 223,739

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 24,500 25,541
Hire purchase contracts 132,891 62,578
Trade creditors 78,548 55,009
Taxation and social security 50,796 74,721
Other creditors 33,174 28,346
319,909 246,195

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 65,030 88,534
Hire purchase contracts 136,163 269,034
201,193 357,568

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 89,530 114,075
Hire purchase contracts 269,054 331,612
358,584 445,687

There is a legal charge over the investment property dated the 30th September 2015 in favour of National Westminster Bank PLC.

The Clever Baggers Limited (Registered number: 05775621)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


12. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £8,420 (2022 £15,532).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
V Lacey-Johnson and Mrs S L Lacey-Johnson
Balance outstanding at start of year 77,135 77,135
Amounts advanced 110,295 -
Amounts repaid (108,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 79,430 77,135