Company registration number 10026607 (England and Wales)
CLH GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
CLH GROUP LIMITED
COMPANY INFORMATION
Directors
Mr J Leary
Mrs J R Leary
Mr E P Bell
Mrs A Bell
Mr L G Leary
Mrs G Leary
Secretary
Mrs M H Leary
Company number
10026607
Registered office
Devonshire House
Cofton Road
Marsh Barton Trading Estate
Exeter
Devon
England
EX2 8QW
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
CLH GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
CLH GROUP LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
162,241
242,135
Tangible assets
4
1,058,636
1,033,672
1,220,877
1,275,807
Current assets
Stocks
794,755
945,620
Debtors
5
1,079,376
805,601
Cash at bank and in hand
361,063
366,293
2,235,194
2,117,514
Creditors: amounts falling due within one year
6
(975,941)
(929,333)
Net current assets
1,259,253
1,188,181
Total assets less current liabilities
2,480,130
2,463,988
Creditors: amounts falling due after more than one year
7
(826,642)
(1,007,940)
Provisions for liabilities
(78,618)
(60,710)
Net assets
1,574,870
1,395,338
Capital and reserves
Called up share capital
800
800
Retained earnings
1,574,070
1,394,538
Total equity
1,574,870
1,395,338
CLH GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 November 2024 and are signed on its behalf by:
Mr E P Bell
Director
Company Registration No. 10026607
CLH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
CLH Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Devonshire House, Cofton Road, Marsh Barton Trading Estate, Exeter, Devon, England, EX2 8QW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount in connection with the acquisition of the business in 2016, is being amortised evenly over its estimated useful life of 10 years.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
CLH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Amortisation 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:
Software
20% on cost
1.5
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:
Leasehold land and buildings
2% on cost
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
33.33% on cost
Motor vehicles
25% on reducing balance
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.
1.6
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.
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.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
CLH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.9
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. 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss 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 leases asset are consumed.
CLH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
36
31
3
Intangible fixed assets
Goodwill
Software
Total
£
£
£
Cost
At 1 May 2023 and 30 April 2024
734,409
32,266
766,675
Amortisation and impairment
At 1 May 2023
514,087
10,453
524,540
Amortisation charged for the year
73,441
6,453
79,894
At 30 April 2024
587,528
16,906
604,434
Carrying amount
At 30 April 2024
146,881
15,360
162,241
At 30 April 2023
220,322
21,813
242,135
CLH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
888,725
499,294
1,388,019
Additions
11,307
178,534
189,841
Disposals
(135,996)
(135,996)
At 30 April 2024
900,032
541,832
1,441,864
Depreciation and impairment
At 1 May 2023
86,972
267,374
354,346
Depreciation charged in the year
16,001
82,885
98,886
Eliminated in respect of disposals
(70,004)
(70,004)
At 30 April 2024
102,973
280,255
383,228
Carrying amount
At 30 April 2024
797,059
261,577
1,058,636
At 30 April 2023
801,753
231,919
1,033,672
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
907,405
690,609
Other debtors
171,971
114,992
1,079,376
805,601
CLH GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
38,728
Trade creditors
502,709
417,494
Taxation and social security
270,314
236,165
Other creditors
202,918
236,946
975,941
929,333
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,257
Other creditors
826,642
997,683
826,642
1,007,940
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
17,210
35,909
9
Related party disclosures
During the year, the company received loans from the directors totalling £852,742 (2023: £1,102,678). Interest has been charged where applicable on these loans at a commercial rate and there are no set terms for repayment, except that balances reported in amounts falling due within one year will not be repaid within twelve months.