Clifford Thomas Ltd 04298703 false 2023-11-01 2024-07-31 2024-07-31 The principal activity of the company is sales consultancy and business management. Digita Accounts Production Advanced 6.30.9574.0 true true 04298703 2023-11-01 2024-07-31 04298703 2024-07-31 04298703 bus:Director2 1 2024-07-31 04298703 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-07-31 04298703 core:RetainedEarningsAccumulatedLosses 2024-07-31 04298703 core:ShareCapital 2024-07-31 04298703 core:CurrentFinancialInstruments 2024-07-31 04298703 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 04298703 core:Non-currentFinancialInstruments 2024-07-31 04298703 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 04298703 core:FurnitureFittingsToolsEquipment 2024-07-31 04298703 bus:SmallEntities 2023-11-01 2024-07-31 04298703 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-07-31 04298703 bus:FilletedAccounts 2023-11-01 2024-07-31 04298703 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-07-31 04298703 bus:RegisteredOffice 2023-11-01 2024-07-31 04298703 bus:CompanySecretary1 2023-11-01 2024-07-31 04298703 bus:Director2 2023-11-01 2024-07-31 04298703 bus:Director2 1 2023-11-01 2024-07-31 04298703 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-11-01 2024-07-31 04298703 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-07-31 04298703 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-07-31 04298703 core:OfficeEquipment 2023-11-01 2024-07-31 04298703 core:PlantMachinery 2023-11-01 2024-07-31 04298703 countries:EnglandWales 2023-11-01 2024-07-31 04298703 2023-10-31 04298703 bus:Director2 1 2023-10-31 04298703 core:FurnitureFittingsToolsEquipment 2023-10-31 04298703 2022-11-01 2023-10-31 04298703 2023-10-31 04298703 bus:Director2 1 2023-10-31 04298703 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-10-31 04298703 core:RetainedEarningsAccumulatedLosses 2023-10-31 04298703 core:ShareCapital 2023-10-31 04298703 core:CurrentFinancialInstruments 2023-10-31 04298703 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 04298703 core:Non-currentFinancialInstruments 2023-10-31 04298703 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 04298703 core:FurnitureFittingsToolsEquipment 2023-10-31 04298703 bus:Director2 1 2022-11-01 2023-10-31 04298703 bus:Director2 1 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04298703

Clifford Thomas Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 November 2023 to 31 July 2024

image-name
 

Clifford Thomas Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Clifford Thomas Ltd

Company Information

Director

Mr Clifford Lloyd Thomas

Company secretary

Ms Rebekah Thomas

Registered office

18 Ruston Park
Rustington
West Sussex
BN16 2AD

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

 

Clifford Thomas Ltd

(Registration number: 04298703)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,221

5,622

Current assets

 

Debtors

5

744

8,234

Cash at bank and in hand

 

24

9,375

 

768

17,609

Creditors: Amounts falling due within one year

6

(4,572)

(15,630)

Net current (liabilities)/assets

 

(3,804)

1,979

Total assets less current liabilities

 

417

7,601

Creditors: Amounts falling due after more than one year

6

-

(5,945)

Provisions for liabilities

(802)

(1,068)

Net (liabilities)/assets

 

(385)

588

Capital and reserves

 

Called up share capital

7

2

2

Profit and loss account

(387)

586

Shareholders' (deficit)/funds

 

(385)

588

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 August 2024
 

 

Clifford Thomas Ltd

(Registration number: 04298703)
Balance Sheet as at 31 July 2024

.........................................
Mr Clifford Lloyd Thomas
Director

 

Clifford Thomas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18 Ruston Park
Rustington
West Sussex
BN16 2AD

These financial statements were authorised for issue by the director on 30 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Clifford Thomas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 July 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Clifford Thomas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 July 2024

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Clifford Thomas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

11,521

11,521

At 31 July 2024

11,521

11,521

Depreciation

At 1 November 2023

5,899

5,899

Charge for the period

1,401

1,401

At 31 July 2024

7,300

7,300

Carrying amount

At 31 July 2024

4,221

4,221

At 31 October 2023

5,622

5,622

5

Debtors

Current

2024
£

2023
£

Other debtors

744

8,234

 

744

8,234

 

Clifford Thomas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

3,914

3,635

Taxation and social security

 

58

10,430

Accruals and deferred income

 

600

1,500

Other creditors

 

-

65

 

4,572

15,630

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

5,945

 

-

5,945

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

Clifford Thomas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 July 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

5,945

-

5,945

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

3,635

Other borrowings

3,914

-

3,914

3,635

9

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to directors
£

Repayments by director
£

At 31 July 2024
£

Mr Clifford Lloyd Thomas

Directors loan

8,234

3,372

(15,520)

(3,914)

         
       

 

2023

At 1 November 2022
£

Advances to directors
£

Repayments by director
£

At 31 October 2023
£

Mr Clifford Lloyd Thomas

Directors loan

11,220

32,014

(35,000)

8,234