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REGISTERED NUMBER: SC257781 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Claremont Office Furniture Limited

Claremont Office Furniture Limited (Registered number: SC257781)






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

Chartered Accountants' Report 8

Claremont Office Furniture Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: M Fellowes
Mrs K Fellowes





REGISTERED OFFICE: Orbital House Peel Park
East Kilbride
United Kingdom
Glasgow
G74 5PA





REGISTERED NUMBER: SC257781 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Claremont Office Furniture Limited (Registered number: SC257781)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 206,062 255,077
Investment property 5 180,000 -
386,062 255,077

CURRENT ASSETS
Stocks 290,746 278,974
Debtors 6 858,746 1,333,919
Cash at bank and in hand 149,595 561,403
1,299,087 2,174,296
CREDITORS
Amounts falling due within one year 7 1,041,471 1,723,565
NET CURRENT ASSETS 257,616 450,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

643,678

705,808

CREDITORS
Amounts falling due after more than one
year

8

(58,158

)

(115,895

)

PROVISIONS FOR LIABILITIES 9 (25,056 ) (29,833 )
NET ASSETS 560,464 560,080

CAPITAL AND RESERVES
Called up share capital 290,000 290,000
Capital redemption reserve 30,000 30,000
Fair value reserve 10 5,242 -
Retained earnings 235,222 240,080
560,464 560,080

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.

Claremont Office Furniture Limited (Registered number: SC257781)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





Mrs K Fellowes - Director


Claremont Office Furniture Limited (Registered number: SC257781)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Claremont Office Furniture Limited is a private company, limited by shares , registered in Scotland. 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 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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.

Claremont Office Furniture Limited (Registered number: SC257781)

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 24 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,100 61,969 313,625 126,661 503,355
Additions - 1,272 60,163 2,794 64,229
Disposals - - (86,604 ) - (86,604 )
At 31 March 2024 1,100 63,241 287,184 129,455 480,980
DEPRECIATION
At 1 April 2023 1,100 29,427 116,642 101,109 248,278
Charge for year - 8,454 53,020 7,086 68,560
Eliminated on disposal - - (41,920 ) - (41,920 )
At 31 March 2024 1,100 37,881 127,742 108,195 274,918
NET BOOK VALUE
At 31 March 2024 - 25,360 159,442 21,260 206,062
At 31 March 2023 - 32,542 196,983 25,552 255,077

Claremont Office Furniture Limited (Registered number: SC257781)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 173,011
Revaluations 6,989
At 31 March 2024 180,000
NET BOOK VALUE
At 31 March 2024 180,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 6,989
Cost 173,011
180,000

If following historical cost had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 173,011 -

Investment property was valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 450,270 952,816
Amounts owed by group undertakings 335,013 325,241
Other debtors 73,463 55,862
858,746 1,333,919

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 28,000 28,000
Hire purchase contracts 41,644 40,437
Trade creditors 642,866 1,335,589
Taxation and social security 100,261 105,237
Other creditors 228,700 214,302
1,041,471 1,723,565

Claremont Office Furniture Limited (Registered number: SC257781)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 32,667 60,667
Hire purchase contracts 25,491 55,228
58,158 115,895

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 25,056 29,833

Deferred
tax
£   
Balance at 1 April 2023 29,833
Utilised during year (4,777 )
Balance at 31 March 2024 25,056

10. RESERVES
Fair
value
reserve
£   
Transfer to fair value 6,989
Deferred tax on revaluation (1,747 )

At 31 March 2024 5,242

11. RELATED PARTY DISCLOSURES

Included in debtors is a balance of £335,013 (2023 - £329,768) due from the holding company, COFH Ltd. A dividend of £55,984 (2023 - £55,983) was paid to the holding company in the year.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Claremont Office Furniture Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Claremont Office Furniture Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Claremont Office Furniture Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Claremont Office Furniture Limited and state those matters that we have agreed to state to the Board of Directors of Claremont Office Furniture Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Claremont Office Furniture Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Claremont Office Furniture Limited. You consider that Claremont Office Furniture Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Claremont Office Furniture Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


8 October 2024