Clark Casey Limited 06533244 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of management services to its subsidiary. Digita Accounts Production Advanced 6.30.9574.0 true 06533244 2023-04-01 2024-03-31 06533244 2024-03-31 06533244 core:CurrentFinancialInstruments 2024-03-31 06533244 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06533244 core:FurnitureFittings 2024-03-31 06533244 1 2024-03-31 06533244 bus:SmallEntities 2023-04-01 2024-03-31 06533244 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06533244 bus:FilletedAccounts 2023-04-01 2024-03-31 06533244 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06533244 bus:RegisteredOffice 2023-04-01 2024-03-31 06533244 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 06533244 bus:Director1 2023-04-01 2024-03-31 06533244 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06533244 core:FurnitureFittings 2023-04-01 2024-03-31 06533244 core:ToolsEquipment 2023-04-01 2024-03-31 06533244 countries:EnglandWales 2023-04-01 2024-03-31 06533244 1 2023-04-01 2024-03-31 06533244 2023-03-31 06533244 core:FurnitureFittings 2023-03-31 06533244 1 2023-03-31 06533244 2022-04-01 2023-03-31 06533244 2023-03-31 06533244 core:CurrentFinancialInstruments 2023-03-31 06533244 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06533244 core:FurnitureFittings 2023-03-31 06533244 1 2023-03-31 06533244 1 2022-04-01 2023-03-31 06533244 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 06533244

Clark Casey Limited

Unaudited Filleted Financial Statements

31 March 2024

 

Clark Casey Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Clark Casey Limited

(Registration number: 06533244)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,579

1,858

Investments

5

336,379

336,379

 

337,958

338,237

Current assets

 

Debtors

6

-

2,265

Cash at bank and in hand

 

83,844

62,638

 

83,844

64,903

Creditors: Amounts falling due within one year

7

(270,479)

(174,768)

Net current liabilities

 

(186,635)

(109,865)

Total assets less current liabilities

 

151,323

228,372

Provisions for liabilities

(395)

(492)

Net assets

 

150,928

227,880

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

150,828

227,780

Shareholders' funds

 

150,928

227,880

 

Clark Casey Limited

(Registration number: 06533244)
Statement of Financial Position as at 31 March 2024 (continued)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 


Mr J A Casey
Director


Mr J Clark
Company secretary and director

 

Clark Casey Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Dittons
Fore Street
Calstock
Cornwall
PL18 9RN

Principal activity

The principal activity of the company is the provision of management services to its subsidiary.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered.

 

Clark Casey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings fixtures and equipment

15% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Clark Casey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Clark Casey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 April 2023

3,345

3,345

At 31 March 2024

3,345

3,345

Depreciation

At 1 April 2023

1,487

1,487

Charge for the year

279

279

At 31 March 2024

1,766

1,766

Carrying amount

At 31 March 2024

1,579

1,579

At 31 March 2023

1,858

1,858

5

Investments

2024
£

2023
£

Shares in group undertakings and participating interests

336,379

336,379

6

Debtors

2024
£

2023
£

Amounts owed by related parties

-

2,252

Prepayments

-

13

-

2,265

 

Clark Casey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Amounts owed to group undertakings and undertakings in which the company has a participating interest

155,651

64,356

Taxation and social security

12,654

14,352

Accruals and deferred income

3,660

1,545

Other creditors

98,514

94,515

270,479

174,768

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions


Directors advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Directors'

(53,581)

(4,000)

(57,581)

 

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Directors'

(57,581)

(4,000)

(61,581)

       
     

 


 

Loan interest of £5,000 has been paid to the directors during the year which utilises an interest rate of 8% of the average balance during the year.

Related party transactions

 

Clark Casey Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

9

Related party transactions (continued)

Clark Casey Limited is the parent company of Deborah Clark & Associates Limited. The subsidiary's registered office is The Dittons, Fore Street, Calstock, Cornwall PL18 9RN. At the year end, Clark Casey Limited owed £155,650 (2023: £64,356) to Deborah Clark & Associates Limited.