IRIS Accounts Production v24.2.0.383 06795154 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067951542023-03-31067951542024-03-31067951542023-04-012024-03-31067951542022-03-31067951542022-04-012023-03-31067951542023-03-3106795154ns15:EnglandWales2023-04-012024-03-3106795154ns14:PoundSterling2023-04-012024-03-3106795154ns10:Director12023-04-012024-03-3106795154ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106795154ns10:SmallEntities2023-04-012024-03-3106795154ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106795154ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106795154ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106795154ns10:FullAccounts2023-04-012024-03-3106795154ns10:Director22023-04-012024-03-3106795154ns10:CompanySecretary12023-04-012024-03-3106795154ns10:RegisteredOffice2023-04-012024-03-3106795154ns5:CurrentFinancialInstruments2024-03-3106795154ns5:CurrentFinancialInstruments2023-03-3106795154ns5:Non-currentFinancialInstruments2024-03-3106795154ns5:Non-currentFinancialInstruments2023-03-3106795154ns5:ShareCapital2024-03-3106795154ns5:ShareCapital2023-03-3106795154ns5:RetainedEarningsAccumulatedLosses2024-03-3106795154ns5:RetainedEarningsAccumulatedLosses2023-03-3106795154ns5:PlantMachinery2023-04-012024-03-3106795154ns5:FurnitureFittings2023-04-012024-03-3106795154ns5:MotorVehicles2023-04-012024-03-3106795154ns5:ComputerEquipment2023-04-012024-03-3106795154ns5:PlantMachinery2023-03-3106795154ns5:FurnitureFittings2023-03-3106795154ns5:MotorVehicles2023-03-3106795154ns5:ComputerEquipment2023-03-3106795154ns5:PlantMachinery2024-03-3106795154ns5:FurnitureFittings2024-03-3106795154ns5:MotorVehicles2024-03-3106795154ns5:ComputerEquipment2024-03-3106795154ns5:PlantMachinery2023-03-3106795154ns5:FurnitureFittings2023-03-3106795154ns5:MotorVehicles2023-03-3106795154ns5:ComputerEquipment2023-03-3106795154ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106795154ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106795154ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106795154ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106795154ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3106795154ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3106795154ns5:HirePurchaseContracts2024-03-3106795154ns5:HirePurchaseContracts2023-03-3106795154ns5:Secured2024-03-3106795154ns5:Secured2023-03-31
REGISTERED NUMBER: 06795154 (England and Wales)












CLYDESDALE GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154)

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


CLYDESDALE GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: K R Netherwood
M J Moores



SECRETARY: K R Netherwood



REGISTERED OFFICE: 3 The Works
55 Millbrook Road East
Southampton
Hampshire
SO15 1HN



REGISTERED NUMBER: 06795154 (England and Wales)



BANKERS: Handelsbanken
Oceana House
39-49 Commercial Road
Southampton
Hampshire
SO15 1GA

CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 55,869 45,915

CURRENT ASSETS
Stocks 451,912 397,093
Debtors 5 325,823 249,993
Cash at bank and in hand 17,600 6,009
795,335 653,095
CREDITORS
Amounts falling due within one year 6 (654,353 ) (332,647 )
NET CURRENT ASSETS 140,982 320,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,851

366,363

CREDITORS
Amounts falling due after more than one
year

7

(55,635

)

(302,639

)

PROVISIONS FOR LIABILITIES (13,967 ) (11,479 )
NET ASSETS 127,249 52,245

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 127,247 52,243
SHAREHOLDERS' FUNDS 127,249 52,245

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 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.

CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154)

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 Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





K R Netherwood - Director


CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154)

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


1. STATUTORY INFORMATION

Clydesdale Group 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "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 FRS 102 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.

The company has taken advantage of the small companies' exemption not to prepare consolidated accounts.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - Straight line over 4 years
Office Equipment - 33% Reducing balance
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.


CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154)

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


2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor Computer
machinery Equipment vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2023 7,264 14,215 89,572 4,978 116,029
Additions - - 23,000 - 23,000
At 31 March 2024 7,264 14,215 112,572 4,978 139,029
DEPRECIATION
At 1 April 2023 7,264 13,362 46,674 2,814 70,114
Charge for year - 281 12,163 602 13,046
At 31 March 2024 7,264 13,643 58,837 3,416 83,160
NET BOOK VALUE
At 31 March 2024 - 572 53,735 1,562 55,869
At 31 March 2023 - 853 42,898 2,164 45,915


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 302,060 168,771
Other debtors 23,763 81,222
325,823 249,993

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 260,782 48,232
Hire purchase contracts (see note 8) 24,528 9,728
Trade creditors 216,696 196,090
Taxation and social security 81,694 38,011
Other creditors 70,653 40,586
654,353 332,647

CLYDESDALE GROUP LIMITED (REGISTERED NUMBER: 06795154)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 20,953 269,029
Hire purchase contracts (see note 8) 34,682 33,610
55,635 302,639

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 20,953 269,029
20,953 269,029

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 24,528 9,728
Between one and five years 34,682 33,610
59,210 43,338

At the balance sheet date the company had future commitments under operating leases which totalled £1,485 (2022 - £Nil).

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire Purchase 59,210 67,220
Loan 281,735 254,592
340,945 321,812

The above debts are secured against the assets to which they relate.