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REGISTERED NUMBER: SC583150 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Clyde Cable Supplies Limited

Clyde Cable Supplies Limited (Registered number: SC583150)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clyde Cable Supplies Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Doherty
E McVey
C Tweedie





REGISTERED OFFICE: 73 Union Street
Greenock
PA16 8BG





REGISTERED NUMBER: SC583150 (Scotland)





ACCOUNTANTS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

Clyde Cable Supplies Limited (Registered number: SC583150)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,920 69,160

CURRENT ASSETS
Stocks 727,918 846,689
Debtors 5 1,084,481 1,196,809
Cash at bank and in hand 184,251 45,556
1,996,650 2,089,054
CREDITORS
Amounts falling due within one year 6 1,718,878 1,958,359
NET CURRENT ASSETS 277,772 130,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,692

199,855

CREDITORS
Amounts falling due after more than one
year

7

33,173

104,952
NET ASSETS 328,519 94,903

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 328,219 94,603
328,519 94,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Clyde Cable Supplies Limited (Registered number: SC583150)

Balance Sheet - continued
31 December 2023


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 13 November 2024 and were signed on its behalf by:





C Tweedie - Director


Clyde Cable Supplies Limited (Registered number: SC583150)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Clyde Cable Supplies 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.

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 each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

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.

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 14 (2022 - 10 ) .

Clyde Cable Supplies Limited (Registered number: SC583150)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 156,621
Additions 43,921
At 31 December 2023 200,542
DEPRECIATION
At 1 January 2023 87,461
Charge for year 29,161
At 31 December 2023 116,622
NET BOOK VALUE
At 31 December 2023 83,920
At 31 December 2022 69,160

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,039,481 1,106,509
Other debtors 45,000 90,300
1,084,481 1,196,809

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 773,299 783,323
Hire purchase contracts 14,815 5,718
Trade creditors 495,054 873,753
Taxation and social security 260,807 93,059
Other creditors 174,903 202,506
1,718,878 1,958,359

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 83,988
Hire purchase contracts 33,173 20,964
33,173 104,952

Clyde Cable Supplies Limited (Registered number: SC583150)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 773,299 783,323
Bank loans - 83,988
773,299 867,311

These debts are secured by way of a bond and floating charge over the assets of the company.