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Company No: 05115079 (England and Wales)

CLINKARD LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

CLINKARD LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

CLINKARD LTD

BALANCE SHEET

As at 30 April 2024
CLINKARD LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 375 1,875
Tangible assets 4 23,531 32,642
23,906 34,517
Current assets
Stocks 5 28,000 324,475
Debtors 6 869,172 1,020,486
Cash at bank and in hand 212,610 199,690
1,109,782 1,544,651
Creditors: amounts falling due within one year 7 ( 710,315) ( 1,065,769)
Net current assets 399,467 478,882
Total assets less current liabilities 423,373 513,399
Creditors: amounts falling due after more than one year 8 ( 13,783) ( 20,855)
Net assets 409,590 492,544
Capital and reserves
Called-up share capital 60 60
Other reserves 30 30
Profit and loss account 409,500 492,454
Total shareholders' funds 409,590 492,544

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Clinkard Ltd (registered number: 05115079) were approved and authorised for issue by the Board of Directors on 28 January 2025. They were signed on its behalf by:

J N Clinkard
Director
CLINKARD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
CLINKARD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clinkard Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Abbey Enterprise Centre, Premier Way, Romsey, Hampshire, SO51 9AQ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 3 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 3 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 May 2023 6,000 6,000
At 30 April 2024 6,000 6,000
Accumulated amortisation
At 01 May 2023 4,125 4,125
Charge for the financial year 1,500 1,500
At 30 April 2024 5,625 5,625
Net book value
At 30 April 2024 375 375
At 30 April 2023 1,875 1,875

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 70,722 7,090 31,150 24,978 6,278 140,218
Additions 0 350 0 0 8,183 8,533
Disposals 0 0 ( 12,000) 0 0 ( 12,000)
At 30 April 2024 70,722 7,440 19,150 24,978 14,461 136,751
Accumulated depreciation
At 01 May 2023 70,722 5,976 3,798 24,978 2,102 107,576
Charge for the financial year 0 494 6,651 0 3,562 10,707
Disposals 0 0 ( 5,063) 0 0 ( 5,063)
At 30 April 2024 70,722 6,470 5,386 24,978 5,664 113,220
Net book value
At 30 April 2024 0 970 13,764 0 8,797 23,531
At 30 April 2023 0 1,114 27,352 0 4,176 32,642

5. Stocks

2024 2023
£ £
Stocks 28,000 324,475

6. Debtors

2024 2023
£ £
Trade debtors 336,747 762,645
Other debtors 532,425 257,841
869,172 1,020,486

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,011
Trade creditors 349,212 493,263
Taxation and social security 18,586 125,985
Obligations under finance leases and hire purchase contracts (secured) 5,000 12,917
Other creditors 327,517 423,593
710,315 1,065,769

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 10,866 20,855
Obligations under finance leases and hire purchase contracts (secured) 2,917 0
13,783 20,855

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Key management 199,078 171,325

Interest of 2.25% has been charged on any amounts overdrawn.