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REGISTERED NUMBER: 10664329 (England and Wales)















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: S M O'Grady
D Waring





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 10664329 (England and Wales)





ACCOUNTANTS: Cobham Murphy
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 5 593,789 593,789
Investment property 6 263,750 205,000
857,539 798,789

CURRENT ASSETS
Debtors 7 5,897,782 4,081,333
Cash at bank 9,468 7,882
5,907,250 4,089,215
CREDITORS
Amounts falling due within one year 8 1,418,074 1,331,583
NET CURRENT ASSETS 4,489,176 2,757,632
TOTAL ASSETS LESS CURRENT LIABILITIES 5,346,715 3,556,421

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 593,339 593,339
Retained earnings 4,753,176 2,962,882
SHAREHOLDERS' FUNDS 5,346,715 3,556,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Holdings Limited (Registered number: 10664329)

Balance Sheet - continued
31 August 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 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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 12.5% on cost

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 450,182
Disposals (450,182 )
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 593,789
NET BOOK VALUE
At 31 August 2023 593,789
At 31 August 2022 593,789

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 205,000
Additions 58,750
At 31 August 2023 263,750
NET BOOK VALUE
At 31 August 2023 263,750
At 31 August 2022 205,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Amounts owed by group undertakings 5,328,394 2,791,944
Other debtors 569,388 1,289,389
5,897,782 4,081,333

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Amounts owed to group undertakings 343,973 1,232,747
Taxation and social security 81,092 14,688
Other creditors 993,009 84,148
1,418,074 1,331,583

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
£    £   
S M O'Grady
Balance outstanding at start of year (2,745 ) 57,198
Amounts advanced 30,938 3,162,085
Amounts repaid (788,000 ) (3,222,028 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (759,807 ) (2,745 )

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.