REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Clay McGuire Executive Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Clay McGuire Executive Limited |
Clay McGuire Executive Limited (Registered number: 07124939) |
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 |
Clay McGuire Executive Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
Clay McGuire Executive Limited (Registered number: 07124939) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
Clay McGuire Executive Limited (Registered number: 07124939) |
Balance Sheet - continued |
31 December 2023 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Clay McGuire Executive Limited (Registered number: 07124939) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Clay McGuire Executive Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. |
The company recognises revenue revenue when: |
- the amount of revenue can be reliably measured; |
- it is probable that future economic benefits will flow to the entity; |
- the entity retains neither continuing managerial involvement to the degree usually associated |
with ownership nor effective control over the services provided; |
- the cost incurred or to be incurred in respect of the transaction can be reliably measured; |
- all of the significant risks and rewards of ownership have been transferred to the customer; and |
- specific criteria have been met for each of the company's activities. |
Tangible fixed assets |
Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - 25% on cost |
Clay McGuire Executive Limited (Registered number: 07124939) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Clay McGuire Executive Limited (Registered number: 07124939) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Clay McGuire Executive Limited (Registered number: 07124939) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | RELATED PARTY DISCLOSURES |
Loans from related parties |
Key management |
Total |
2023 | £ | £ |
At start of period | 398 | 398 |
Advanced | 85,463 | 85,463 |
Repaid | (66,720 | ) | (66,720 | ) |
At end of period | 19,141 | 19,141 |
Key management |
Total |
2022 | £ | £ |
At start of period | - | - |
Advanced | 153,725 | 153,725 |
Repaid | (153,327 | ) | (153,327 | ) |
At end of period | 398 | 398 |
Loans from key management are interest free and repayable on demand. |
Clay McGuire Executive Limited (Registered number: 07124939) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | RELATED PARTY DISCLOSURES - continued |
Loans to related parties |
Other related parties |
Total |
2023 | £ | £ |
At start of period | - | - |
Advanced | 408 | 408 |
Repaid | - | - |
At end of period | 408 | 408 |
Key management |
Total |
2022 | £ | £ |
At start of period | 1,225 | 1,225 |
Advanced | - | - |
Repaid | (1,225 | ) | (1,225 | ) |
At end of period | - | - |
Loans to key management are repayable on demand and interest is charged on loan balances owing to the company that exceed £10,000 per director. Interest is charged at the HMRC prevailing rate. |
Loans to other related parties are interest free and repayable on demand. |