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REGISTERED NUMBER: 04832015 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Clonoose Chemicals Ltd.

Clonoose Chemicals Ltd. (Registered number: 04832015)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clonoose Chemicals Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTOR: E P Boylan





SECRETARY: Mrs J Boylan





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
M3 2PJ





REGISTERED NUMBER: 04832015 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Clonoose Chemicals Ltd. (Registered number: 04832015)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 321 378

CURRENT ASSETS
Stocks 90,198 102,319
Debtors 5 657,583 1,158,608
Cash at bank and in hand 832,359 325,615
1,580,140 1,586,542
CREDITORS
Amounts falling due within one year 6 279,766 422,830
NET CURRENT ASSETS 1,300,374 1,163,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,300,695

1,164,090

PROVISIONS FOR LIABILITIES 80 139
NET ASSETS 1,300,615 1,163,951

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 1,300,605 1,163,941
SHAREHOLDERS' FUNDS 1,300,615 1,163,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Clonoose Chemicals Ltd. (Registered number: 04832015)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 12 February 2025 and were signed by:





E P Boylan - Director


Clonoose Chemicals Ltd. (Registered number: 04832015)

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

1. STATUTORY INFORMATION

Clonoose Chemicals Ltd. is a private company, limited by shares , registered in England and Wales. 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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33.33% on cost

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

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.

Clonoose Chemicals Ltd. (Registered number: 04832015)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern
The company's financial statements for the year ended 31 March 2024 have been prepared on a going concern basis as, making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,313 5,837 7,150
DEPRECIATION
At 1 April 2023 935 5,837 6,772
Charge for year 57 - 57
At 31 March 2024 992 5,837 6,829
NET BOOK VALUE
At 31 March 2024 321 - 321
At 31 March 2023 378 - 378

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 652,565 1,049,882
Other debtors 5,018 108,726
657,583 1,158,608

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 109,421 322,993
Taxation and social security 50,694 36,939
Other creditors 119,651 62,898
279,766 422,830

Clonoose Chemicals Ltd. (Registered number: 04832015)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RELATED PARTY DISCLOSURES

Included within other creditors is director's current account balance of £54,651 (2023: £72,508 overdrawn). Interest amounting to £709 (2023: £nil) has been charged in respect of over drawn balance during the year.