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REGISTERED NUMBER: 10577928 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2024

FOR

CLOVER HR SERVICES LIMITED

CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


CLOVER HR SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







Directors: M D Doolin
L F Burman
L Porter





Registered office: Grosvenor House
11 St Paul's Square
Birmingham
B3 1RB





Registered number: 10577928 (England and Wales)

CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
Fixed assets
Tangible assets 4 4,467 4,487

Current assets
Debtors 5 182,268 103,871
Cash at bank and in hand 85,444 240,145
267,712 344,016
Creditors
Amounts falling due within one year 6 111,856 222,149
Net current assets 155,856 121,867
Total assets less current liabilities 160,323 126,354

Creditors
Amounts falling due after more than one
year

7

(9,215

)

(17,456

)

Provisions for liabilities 9 (1,200 ) (1,200 )
Net assets 149,908 107,698

Capital and reserves
Called up share capital 10 125 122
Retained earnings 149,783 107,576
Shareholders' funds 149,908 107,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

BALANCE SHEET - continued
31ST MARCH 2024


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 21st June 2024 and were signed on its behalf by:





M D Doolin - Director


CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. Statutory information

Clover HR Services 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
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment 25% SL

CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and 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.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.










CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities. Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

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.

Pension costs & 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 (including officers)

The average number of employees during the year was 17 (2023 - 18 ) .

CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. Tangible fixed assets
Computer
equipment
£
Cost
At 1st April 2023 6,465
Additions 2,130
At 31st March 2024 8,595
Depreciation
At 1st April 2023 1,978
Charge for year 2,150
At 31st March 2024 4,128
Net book value
At 31st March 2024 4,467
At 31st March 2023 4,487

5. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 58,473 100,669
Amounts owed by group undertakings 115,039 -
Other debtors - 125
Directors' loan accounts 3,000 -
Prepayments 5,756 3,077
182,268 103,871

6. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Bank loans & overdrafts (see note 8) 8,140 8,000
Trade creditors 15,463 35,953
Amounts owed to group undertakings - 70,053
Corporation tax 44,200 47,200
Social security & other taxes 40,357 49,959
Other creditors 3,696 10,984
111,856 222,149

CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Bank loans (see note 8) 9,215 17,456

8. Loans

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£ £
Amounts falling due within one year or on demand:
Bank loans 8,140 8,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,140 8,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,075 9,456

9. Provisions for liabilities
31.3.24 31.3.23
£ £
Deferred tax 1,200 1,200

Deferred tax
£
Balance at 1st April 2023 1,200
Balance at 31st March 2024 1,200

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
1,000 Ordinary shares £0.10 100 100
199 A Ordinary shares £0.10 20 22
48 B Ordinary shares £0.10 5 -
125 122

CLOVER HR SERVICES LIMITED (REGISTERED NUMBER: 10577928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


10. Called up share capital - continued

During the year the Company cancelled 25 A Ordinary shares totalling £2.50 and issued 48 B Ordinary shares totalling £4.80.

11. Contingent liabilities & lease commitments

There were no contingent liabilities or lease commitments at 31st March 2024.

12. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Directors' loan account

During the year, the director of the company used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £3,000 were made and repayments of £nil were made during the year. The balance owed to the company at the end of the year was £3,000 (2023: £nil).

The loans and advances were made interest free and were repayable on demand.

13. Ultimate controlling party

The company is a wholly owned subsidiary of Clover HR Services (Holdings) Limited.
Company registration number: 13966253
Company registered office address: Grosvenor House, 11 St Paul's Square, Birmingham, B3 1RB.