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REGISTERED NUMBER: 00475014 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Cladish & Company Limited

Cladish & Company Limited (Registered number: 00475014)






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


Cladish & Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G Langridge
T E Langridge
P Langridge





SECRETARY: T E Langridge





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 00475014 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Cladish & Company Limited (Registered number: 00475014)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 613,510 580,534

CURRENT ASSETS
Stocks 162,237 158,593
Debtors 5 1,072 15,882
Cash at bank and in hand 9,496 14,400
172,805 188,875
CREDITORS
Amounts falling due within one year 6 (183,672 ) (128,945 )
NET CURRENT (LIABILITIES)/ASSETS (10,867 ) 59,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

602,643

640,464

CREDITORS
Amounts falling due after more than one year 7 (279,618 ) (321,102 )

PROVISIONS FOR LIABILITIES 9 (639 ) (31,593 )
NET ASSETS 322,386 287,769

CAPITAL AND RESERVES
Called up share capital 4,550 4,550
Revaluation reserve 10 126,064 58,470
Capital redemption reserve 184,000 184,000
Retained earnings 7,772 40,749
322,386 287,769

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.

Cladish & Company Limited (Registered number: 00475014)

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





T E Langridge - Director


Cladish & Company Limited (Registered number: 00475014)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Cladish & Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company continued to be that of retail of men and ladies wear, sportswear and school uniforms.

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 recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings FreeholdNil
Land and buildings Leasehold Straight line over unexpired period of lease
Fixtures, fittings & equipmentFixtures, fittings - 5% & Equipments - 20%

No depreciation has been charged on freehold land and buildings, as it is the director's policy is to maintain the buildings in a continual state of sound repair. The directors consider that the lives of these assets are so long and the residual values so high that depreciation is not material.

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 credited or charged to profit or loss.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cladish & Company Limited (Registered number: 00475014)

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

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

LEASES
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

PENSION
DEFINED CONTRIBUTION PENSION PLAN
The Company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a plan under which the Company pays fixed contributions into separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the company are held separately from the Company in an independently administered fund.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the company becomes aware of the obligation, and are measured at the best estimates at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

GOING CONCERN
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

BORROWING COSTS
All borrowing costs are recognised in the Income Statement in the year in which they are incurred.

Cladish & Company Limited (Registered number: 00475014)

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 16 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 540,000 44,891 195,639 780,530
Revaluations 37,500 - - 37,500
At 31 March 2024 577,500 44,891 195,639 818,030
DEPRECIATION
At 1 April 2023 - 44,891 155,105 199,996
Charge for year - - 4,524 4,524
At 31 March 2024 - 44,891 159,629 204,520
NET BOOK VALUE
At 31 March 2024 577,500 - 36,010 613,510
At 31 March 2023 540,000 - 40,534 580,534

Legal charge at Companies House has been registered by National Westminster Bank PLC for the loan taken by company, which has fixed charge the benefit of all covenants and rights concerning the property 29 woodcote and plant machinery fixtures fittings furniture equipment implements and utensils the goodwill of any business carried on at the property and the proceeds of any insurance affecting the property or asset.

The fair value of the property has been arrived at on the basis of a valuation carried out by the director at the balance sheet date based on their opinion of the open market value at that date.

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Short and
property leasehold fittings Totals
£    £    £    £   
Valuation in 2019 216,057 - - 216,057
Valuation in 2022 100,000 - - 100,000
Valuation in 2023 (238,017 ) - - (238,017 )
Valuation in 2024 37,500 - - 37,500
Cost 461,960 44,891 195,639 702,490
577,500 44,891 195,639 818,030

Cladish & Company Limited (Registered number: 00475014)

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 929 120
Other debtors 143 15,762
1,072 15,882

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 47,368 27,193
Trade creditors 48,076 32,853
Taxation and social security 43,046 61,548
Other creditors 45,182 7,351
183,672 128,945

The director considers the carrying amounts of current liabilities approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 279,618 321,102

The director considers the carrying amounts of current liabilities approximate to their fair values..

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,500 28,500
Between one and five years 85,500 28,500
114,000 57,000

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 639 31,593

Cladish & Company Limited (Registered number: 00475014)

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

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 31,593
Provided during year (30,954 )
Balance at 31 March 2024 639

consist of fair value adjustments in relation to freehold properties & fixed assets.

10. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

At the balance sheet date the reserves therefore comprise of the following:
Distributable reserves £7,772 (2023: £40,749)
Non Distributable reserves £310,064 (2023: £242,470) (consisting of fair value adjustments in relation to investment properties less the corresponding deferred tax calculated on the fair value).

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme .The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £4,014 (2023 - £3,166).

Contributions totalling £788 (2023 - £931) were payable to fund at the balance sheet date and are included in creditor.

12. RELATED PARTY TRANSACTION

At the balance sheet date, included in other creditors, are amounts due to the directors of £231(2023 - £231). This loan is interest free and repayable on demand.