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REGISTERED NUMBER: 01685016 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Closeside Limited

Closeside Limited (Registered number: 01685016)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Closeside Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J J Wassiliauskas
R C Binley





SECRETARY: N G Selby





REGISTERED OFFICE: 27-31 Nene Court
The Embankment
Wellingborough
Northamptonshire
NN8 1LD





REGISTERED NUMBER: 01685016 (England and Wales)





ACCOUNTANTS: John S Ward & Co Limited
Chartered Certified Accountants
26-28 Headlands
Kettering
Northamptonshire
NN15 7HP

Closeside Limited (Registered number: 01685016)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,347,617 1,356,140

CURRENT ASSETS
Stocks 377,120 603,743
Debtors 5 12,263 19,571
Cash in hand 1,963 1,779
391,346 625,093
CREDITORS
Amounts falling due within one year 6 659,267 776,328
NET CURRENT LIABILITIES (267,921 ) (151,235 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,079,696

1,204,905

CREDITORS
Amounts falling due after more than
one year

7

(157,198

)

(246,878

)

PROVISIONS FOR LIABILITIES (16,879 ) (17,764 )
NET ASSETS 905,619 940,263

Closeside Limited (Registered number: 01685016)

Balance Sheet - continued
31 January 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 623,675 623,675
Retained earnings 281,844 316,488
905,619 940,263

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





J J Wassiliauskas - Director


Closeside Limited (Registered number: 01685016)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Closeside 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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 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.

Closeside Limited (Registered number: 01685016)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 1,212,583 412,387 1,624,970
Additions - 66,026 66,026
Disposals - (68,195 ) (68,195 )
At 31 January 2024 1,212,583 410,218 1,622,801
DEPRECIATION
At 1 February 2023 - 268,830 268,830
Charge for year - 22,889 22,889
Eliminated on disposal - (16,535 ) (16,535 )
At 31 January 2024 - 275,184 275,184
NET BOOK VALUE
At 31 January 2024 1,212,583 135,034 1,347,617
At 31 January 2023 1,212,583 143,557 1,356,140

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,765 9,450
Other debtors 5,498 10,121
12,263 19,571

Closeside Limited (Registered number: 01685016)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 410,627 451,000
Hire purchase contracts 17,554 37,152
Trade creditors 40,625 60,298
Taxation and social security 38,775 63,838
Other creditors 151,686 164,040
659,267 776,328

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 66,699 116,700
Hire purchase contracts 26,226 5,905
Other creditors 64,273 124,273
157,198 246,878

8. RESERVES
Revaluatio
reserve
£   
At 1 February 2023
and 31 January 2024 623,675

9. RELATED PARTY DISCLOSURES

At 31st January 2024 the company owed £164,273 to the Directors of the company.(2023 £224,273)

Interest has not been charged by the Directors.