Registered number
03158114
Claverdon Cartridges Limited
Report and Accounts
29 February 2024
Collins
Chartered Accountants
West Midlands
Claverdon Cartridges Limited
Registered number: 03158114
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 100,001 100,001
Current assets
Stocks 117,000 139,000
Debtors 4 32,123 28,868
149,123 167,868
Creditors: amounts falling due within one year 5 (285,247) (299,153)
Net current liabilities (136,124) (131,285)
Total assets less current liabilities (36,123) (31,284)
Creditors: amounts falling due after more than one year 6 (13,046) (23,046)
Net liabilities (49,169) (54,330)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 48,250 48,250
Profit and loss account (97,519) (102,680)
Shareholders' funds (49,169) (54,330)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D A Evans
Director
Approved by the board on 11 November 2024
Claverdon Cartridges Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and Buildings Nil
Plant and machinery 25% of net book value
Stocks
Stocks are measured at the lower of cost and estimated selling price. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Chicken Shed Total
£ £ £ £
Cost
At 1 March 2023 60,000 6,970 40,000 106,970
At 29 February 2024 60,000 6,970 40,000 106,970
Depreciation
At 1 March 2023 - 6,969 - 6,969
At 29 February 2024 - 6,969 - 6,969
Net book value
At 29 February 2024 60,000 1 40,000 100,001
At 28 February 2023 60,000 1 40,000 100,001
4 Debtors 2024 2023
£ £
Trade debtors 17,442 14,934
VAT receivable 14,681 13,934
32,123 28,868
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,416 17,011
Trade creditors 38,683 38,308
Corporation tax 1,175 -
Directors loans 229,063 241,034
Accruals and deferred income 2,910 2,800
285,247 299,153
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,046 23,046
7 Revaluation reserve 2024 2023
£ £
At 1 March 2023 48,250 48,250
At 29 February 2024 48,250 48,250
8 Other information
Claverdon Cartridges Limited is a private company limited by shares and incorporated in England. Its registered office is:
Claverdon Hall Farm
Lye Green Road
Claverdon
Warwickshire
CV35 8HJ
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