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REGISTERED NUMBER: 08773374 (England and Wales)












CLEVERLY WRAPPED LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CLEVERLY WRAPPED LTD (REGISTERED NUMBER: 08773374)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLEVERLY WRAPPED LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs H R Cleverly





REGISTERED OFFICE: Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR





REGISTERED NUMBER: 08773374 (England and Wales)

CLEVERLY WRAPPED LTD (REGISTERED NUMBER: 08773374)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 2,748 4,465

CURRENT ASSETS
Stocks 103,970 129,239
Debtors 5 17,233 4,970
Cash at bank and in hand 100,074 28,785
221,277 162,994
CREDITORS
Amounts falling due within one year 6 (68,967 ) (32,794 )
NET CURRENT ASSETS 152,310 130,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,058

134,665

CREDITORS
Amounts falling due after more than one
year

7

(150,000

)

(150,000

)

PROVISIONS FOR LIABILITIES (522 ) (848 )
NET ASSETS/(LIABILITIES) 4,536 (16,183 )

RESERVES
Retained earnings 4,536 (16,183 )
4,536 (16,183 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

CLEVERLY WRAPPED LTD (REGISTERED NUMBER: 08773374)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 June 2024 and were signed by:





Mrs H R Cleverly - Director


CLEVERLY WRAPPED LTD (REGISTERED NUMBER: 08773374)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Cleverly Wrapped 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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 - Straight line over 5 years
Fixtures and fittings - 15% Straight line
Computer equipment - Straight line over 3 years

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 Statement of Income and Retained Earnings, 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.


CLEVERLY WRAPPED LTD (REGISTERED NUMBER: 08773374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 April 2023 570 16,629 18,091 35,290
Additions - - 833 833
Disposals - - (783 ) (783 )
At 31 March 2024 570 16,629 18,141 35,340
DEPRECIATION
At 1 April 2023 553 14,722 15,550 30,825
Charge for year 17 814 1,400 2,231
Eliminated on disposal - - (464 ) (464 )
At 31 March 2024 570 15,536 16,486 32,592
NET BOOK VALUE
At 31 March 2024 - 1,093 1,655 2,748
At 31 March 2023 17 1,907 2,541 4,465

CLEVERLY WRAPPED LTD (REGISTERED NUMBER: 08773374)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 24 24
Other debtors 17,209 4,946
17,233 4,970

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 27,907 7,611
Taxation and social security 15,529 11,101
Other creditors 25,531 14,082
68,967 32,794

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 150,000 150,000

8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £8,000 (2023: £16,000).