Acorah Software Products - Accounts Production 14.6.300 false true 31 March 2023 1 April 2022 true No description of principal activity 1 April 2023 31 March 2024 31 March 2024 13740911 Mr Adrian Worthington Mr Cameron Worthington Mr Louis Monk CLA Group Trading Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13740911 2023-03-31 13740911 2024-03-31 13740911 2023-04-01 2024-03-31 13740911 frs-core:CurrentFinancialInstruments 2024-03-31 13740911 frs-core:Non-currentFinancialInstruments 2024-03-31 13740911 frs-core:ShareCapital 2024-03-31 13740911 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 13740911 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13740911 frs-bus:FullAccounts 2023-04-01 2024-03-31 13740911 frs-bus:SmallEntities 2023-04-01 2024-03-31 13740911 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13740911 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13740911 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-04-01 2024-03-31 13740911 1 2023-04-01 2024-03-31 13740911 frs-bus:Director1 2023-04-01 2024-03-31 13740911 frs-bus:Director2 2023-04-01 2024-03-31 13740911 frs-bus:Director3 2023-04-01 2024-03-31 13740911 frs-core:CurrentFinancialInstruments 1 2024-03-31 13740911 frs-countries:EnglandWales 2023-04-01 2024-03-31 13740911 2022-03-31 13740911 2023-03-31 13740911 2022-04-01 2023-03-31 13740911 frs-core:CurrentFinancialInstruments 2023-03-31 13740911 frs-core:Non-currentFinancialInstruments 2023-03-31 13740911 frs-core:ShareCapital 2023-03-31 13740911 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 13740911 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 13740911
CLA HOLDINGS DIRECT LTD
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4—5
Notes to the Financial Statements 6—7
Page 1
Company Information
Directors Mr Adrian Worthington
Mr Cameron Worthington
Mr Louis Monk
Company Number 13740911
Registered Office 120 Leabrook Road
Wednesbury
West Midland
United Kingdom
WS10 7NB
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Directors' Report
The directors present their report and the financial statements for the year ended 31 March 2024.
Directors
The directors who held office during the year were as follows:
Mr Adrian Worthington
Mr Cameron Worthington
Mr Louis Monk
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
Mr Cameron Worthington
Director
11/06/2024
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 146,079 244,513
Cost of sales (875 ) -
GROSS PROFIT 145,204 244,513
Administrative expenses (18,094 ) (100,495 )
OPERATING PROFIT 127,110 144,018
Profit on revaluation of investment property 365,129 -
Interest payable and similar charges (57,190 ) (66,722 )
PROFIT BEFORE TAXATION 435,049 77,296
Tax on Profit (106,096 ) (10,008 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 328,953 67,288
The notes on pages 6 to 7 form part of these financial statements.
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Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 3,500,000 3,269,084
3,500,000 3,269,084
CURRENT ASSETS
Debtors 5 - 43,740
Cash at bank and in hand 24,470 16,256
24,470 59,996
Creditors: Amounts Falling Due Within One Year 6 (1,987,121 ) (1,981,551 )
NET CURRENT ASSETS (LIABILITIES) (1,962,651 ) (1,921,555 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,537,349 1,347,529
Creditors: Amounts Falling Due After More Than One Year 7 (1,091,938 ) (1,322,353 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (91,282 ) -
NET ASSETS 354,129 25,176
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 354,029 25,076
SHAREHOLDERS' FUNDS 354,129 25,176
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Cameron Worthington
Director
17/05/2024
The notes on pages 6 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
CLA HOLDINGS DIRECT LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13740911 . The registered office is 120 Leabrook Road , Wednesbury, West Midland, United Kingdom, WS10 7NB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Investment Property
2024
£
Fair Value
As at 1 April 2023 3,269,084
Revaluations 365,129
Fair value adjustments (134,213 )
As at 31 March 2024 3,500,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 43,740
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,094 353,249
Corporation tax 24,786 10,008
VAT 12,261 15,945
Group undertaking 1,750,314 1,566,683
Bank loan 191,016 35,016
Accruals and deferred income - 650
Directors' loan accounts 650 -
1,987,121 1,981,551
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loan (Long term liabilities - creditors > 1 year) 1,091,938 1,322,353
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
CLA Fabrications Ltd loaned £183,631.23 to CLA Holdings Direct Ltd in financial year.
Intercompany loan balance between CLA Holdings Direct Ltd and CLA Fabrications Ltd on 31.03.2024 was £1,750,314.00 ( 31/3/2023 - £1,566,683).
10. Ultimate Controlling Party
The company's ultimate controlling party is CLA Group Trading Ltd by virtue of his ownership of 100% of the issued share capital in the company.
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