Company registration number 09347519 (England and Wales)
CLADSWELL DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CLADSWELL DEVELOPMENTS LIMITED
COMPANY INFORMATION
Directors
Mr K Bradbury
Mrs T R Bardbury
Company number
09347519
Registered office
38 Park Place
Cheltenham
Gloucestershire
GL50 2QT
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
Ariel House
2138 Coventry Road
Sheldon
Birmingham
B26 3JW
CLADSWELL DEVELOPMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
CLADSWELL DEVELOPMENTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CLADSWELL DEVELOPMENTS LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cladswell Developments Limited for the year ended 31 December 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Cladswell Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cladswell Developments Limited and state those matters that we have agreed to state to the board of directors of Cladswell Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cladswell Developments Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Cladswell Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cladswell Developments Limited. You consider that Cladswell Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cladswell Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
21 May 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CLADSWELL DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
903
1
Current assets
Debtors
4
71,850
50,314
Cash at bank and in hand
134,382
38,775
206,232
89,089
Creditors: amounts falling due within one year
5
(75,610)
(12,968)
Net current assets
130,622
76,121
Total assets less current liabilities
131,525
76,122
Provisions for liabilities
6
(172)
-
0
Net assets
131,353
76,122
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
131,351
76,120
Total equity
131,353
76,122

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 May 2024 and are signed on its behalf by:
Mr K Bradbury
Mrs T R Bardbury
Director
Director
Company registration number 09347519 (England and Wales)
CLADSWELL DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Cladswell Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 38 Park Place, Cheltenham, Gloucestershire, United Kingdom, GL50 2QT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for profits on currency management and difference trading. Losses on difference trading are recognised as direct costs.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% on cost

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.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CLADSWELL DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 January 2023
952
Additions
1,353
At 31 December 2023
2,305
Depreciation and impairment
At 1 January 2023
951
Depreciation charged in the year
451
At 31 December 2023
1,402
Carrying amount
At 31 December 2023
903
At 31 December 2022
1
CLADSWELL DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
71,850
5,250
Other debtors
-
0
45,064
71,850
50,314
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
9
5,073
Taxation and social security
74,544
7,247
Other creditors
1,057
648
75,610
12,968

 

6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
172
-
0
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
2
2
2
2
8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Loan account
-
45,000
(45,000)
-
45,000
(45,000)
-

The directors' loan account was repaid within nine months of the year end.

CLADSWELL DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
9
Ultimate controlling party

The ultimate controlling party is Mr K Bradbury and Mrs T R Bradbury.

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