REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 August 2023 |
for |
Clover Holdings Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 August 2023 |
for |
Clover Holdings Limited |
Clover Holdings Limited (Registered number: 10664329) |
Contents of the Financial Statements |
for the Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Clover Holdings Limited |
Company Information |
for the Year Ended 31 August 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Clover Holdings Limited (Registered number: 10664329) |
Balance Sheet |
31 August 2023 |
31.8.23 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 Holdings Limited (Registered number: 10664329) |
Balance Sheet - continued |
31 August 2023 |
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 |
Clover Holdings Limited (Registered number: 10664329) |
Notes to the Financial Statements |
for the Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Clover Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The director has considered the consequences of COVID-19 and he has determined that they do not create a material uncertainty that casts significant doubt upon the entity’s ability to continue as a going concern. |
Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
Tangible fixed assets |
Land and buildings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at 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. |
Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. |
Clover Holdings Limited (Registered number: 10664329) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 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 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
Additions |
Disposals | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
Clover Holdings Limited (Registered number: 10664329) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2022 |
Additions |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Clover Holdings Limited (Registered number: 10664329) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022: |
31.8.23 | 31.8.22 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
10. | RELATED PARTY DISCLOSURES |
A balance of £2,334,730 (2022 £804,770 owing to) owing from Clover Equipment UK Limited, a company under the control of Mr S M O'Grady, was included within debtors falling due within one year.. |
A balance of £94,550 (2022 £94,550) owing to Clover Truck & Plant (IE) UK Limited, a company under the control of Mr S M O'Grady, was included within creditors. |
A balance of £208,427 (2022 £333,427) owing to Clover Auto Parts Limited, a company under the control of Mr S M O'Grady, was included within creditors. |
A balance of £79,603 (2022 £79,603) owing to SOS Storage (Gwynedd) Limited , a company under the control of Mr S M O'Grady , was included within creditors. |
A balance of £40,996 (2022 £295,504 owing from) owing to Clover Truck & Plant Limited, a company under the control of Mr S M O'Grady, was included within creditors. |
A balance of £7,000 (2022 £7,000) owing from Cloverjack Stores Limited, a company under the control of Mr S M O'Grady, was included within debtors. |
A balance of £355,279 (2022 £360,279) owing from Clover Commercial Property Limited, a company under the control of Mr S M O'Grady, was included within debtors. |
A balance of £2,592,808 (2022 £2,160,590) owing from Clover Industrial Investments Limited, a company under the control of Mr S M O'Grady, was included within debtors. |
The loans are all interest free. |