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Company registration number: 03997775
Claret-e Limited
Unaudited filleted financial statements
30 April 2024
Claret-e Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Claret-e Limited
Directors and other information
Director A G Butterwick
Company number 03997775
Registered office 20 Sunningdale Close
Stanmore
Middlesex
HA7 3QL
Accountant Passer & Co
20 Sunningdale Close
Stanmore
HA7 3QL
Claret-e Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 475,754 472,090
Debtors 6 377,251 392,387
Cash at bank and in hand 67,527 30,062
_______ _______
920,532 894,539
Creditors: amounts falling due
within one year 7 ( 659,010) ( 639,863)
_______ _______
Net current assets 261,522 254,676
_______ _______
Total assets less current liabilities 261,522 254,676
Creditors: amounts falling due
after more than one year 8 ( 330,717) ( 271,571)
_______ _______
Net liabilities ( 69,195) ( 16,895)
_______ _______
Capital and reserves
Called up share capital 100,000 100,000
Share premium account 60,000 60,000
Profit and loss account ( 229,195) ( 176,895)
_______ _______
Shareholders deficit ( 69,195) ( 16,895)
_______ _______
For the 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.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
A G Butterwick
Director
Company registration number: 03997775
Claret-e Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 May 2022 100,000 60,000 ( 71,007) 88,993
Loss for the year ( 105,888) ( 105,888)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 105,888) ( 105,888)
_______ _______ _______ _______
At 30 April 2023 and 1 May 2023 100,000 60,000 ( 176,895) ( 16,895)
Loss for the year ( 52,300) ( 52,300)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 52,300) ( 52,300)
_______ _______ _______ _______
At 30 April 2024 100,000 60,000 ( 229,195) ( 69,195)
_______ _______ _______ _______
Claret-e Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Sunningdale Close, Stanmore, Middlesex, HA7 3QL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 May 2023 and 30 April 2024 9,736 5,729 15,465
_______ _______ _______
Depreciation
At 1 May 2023 and 30 April 2024 9,383 6,082 15,465
_______ _______ _______
Carrying amount
At 30 April 2024 353 ( 353) -
_______ _______ _______
At 30 April 2023 353 ( 353) -
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 334,058 359,378
Other debtors 43,193 33,009
_______ _______
377,251 392,387
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 157,662 166,095
Trade creditors 493,778 463,487
Social security and other taxes 7,421 9,702
Other creditors 149 579
_______ _______
659,010 639,863
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 130,717 31,571
Other creditors 200,000 240,000
_______ _______
330,717 271,571
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
A G Butterwick ( 579) 430 ( 149)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
A G Butterwick - ( 579) ( 579)
_______ _______ _______