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REGISTERED NUMBER: 09019142 (England and Wales)















Financial Statements

for the Period 1 September 2021 to 28 February 2023

for

Clover Equipment UK Ltd

Clover Equipment UK Ltd (Registered number: 09019142)






Contents of the Financial Statements
for the Period 1 September 2021 to 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clover Equipment UK Ltd

Company Information
for the Period 1 September 2021 to 28 February 2023







DIRECTORS: S M O'Grady
D Waring





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 09019142 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Clover Equipment UK Ltd (Registered number: 09019142)

Balance Sheet
28 February 2023

28.2.23 31.8.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,730,920 1,579,730
1,730,920 1,579,730

CURRENT ASSETS
Stocks 857,000 128,000
Debtors 6 779,894 1,620,194
Cash at bank and in hand 159,629 63,926
1,796,523 1,812,120
CREDITORS
Amounts falling due within one year 7 2,831,570 951,700
NET CURRENT (LIABILITIES)/ASSETS (1,035,047 ) 860,420
TOTAL ASSETS LESS CURRENT LIABILITIES 695,873 2,440,150

CREDITORS
Amounts falling due after more than one
year

8

-

(1,315,300

)

PROVISIONS FOR LIABILITIES (308,127 ) (281,525 )
NET ASSETS 387,746 843,325

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 387,646 843,225
SHAREHOLDERS' FUNDS 387,746 843,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2023 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 Equipment UK Ltd (Registered number: 09019142)

Balance Sheet - continued
28 February 2023


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:





S M O'Grady - Director


Clover Equipment UK Ltd (Registered number: 09019142)

Notes to the Financial Statements
for the Period 1 September 2021 to 28 February 2023

1. STATUTORY INFORMATION

Clover Equipment UK Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

COVID-19 is not expected to have a significant impact on the entity. Management has
determined that there is no material uncertainty that casts doubt on 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable on provision of wholesale plant and equipment, excluding discounts, rebates, value added tax and other sales taxes.Income is recognised when the goods are supplied.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Clover Equipment UK Ltd (Registered number: 09019142)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

Taxation
Taxation for the period 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 period 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 3 (2021 - 2 ) .

Clover Equipment UK Ltd (Registered number: 09019142)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 28 February 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2021
and 28 February 2023 10,000
AMORTISATION
At 1 September 2021
and 28 February 2023 10,000
NET BOOK VALUE
At 28 February 2023 -
At 31 August 2021 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2021 1,865,612
Additions 1,373,791
Disposals (1,149,015 )
At 28 February 2023 2,090,388
DEPRECIATION
At 1 September 2021 285,882
Charge for period 141,101
Eliminated on disposal (67,515 )
At 28 February 2023 359,468
NET BOOK VALUE
At 28 February 2023 1,730,920
At 31 August 2021 1,579,730

Clover Equipment UK Ltd (Registered number: 09019142)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 28 February 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2021
and 28 February 2023 60,891
DEPRECIATION
At 1 September 2021
and 28 February 2023 60,890
NET BOOK VALUE
At 28 February 2023 1
At 31 August 2021 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 31.8.21
£    £   
Trade debtors 58,106 595,469
Amounts owed by group undertakings 721,788 528,938
Other debtors - 495,787
779,894 1,620,194

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 31.8.21
£    £   
Hire purchase contracts - 42,000
Payments on account 61,663 -
Trade creditors 2,176,113 545,870
Taxation and social security 433,286 361,895
Other creditors 160,508 1,935
2,831,570 951,700

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 31.8.21
£    £   
Hire purchase contracts - 59,500
Trade creditors - 1,255,800
- 1,315,300

Clover Equipment UK Ltd (Registered number: 09019142)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 28 February 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 31.8.21
£    £   
Hire purchase contracts - 101,500

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 28 February 2023 and 31 August 2021:

28.2.23 31.8.21
£    £   
S M O'Grady
Balance outstanding at start of period - -
Amounts advanced 169,561 673,264
Amounts repaid (326,268 ) (673,264 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (156,707 ) -

11. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available under FRS 8 Paragraph 3c not to disclose transactions with other members of the Clover Limited group.