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REGISTERED NUMBER: 05546033 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

S & GM CLEMENTS LTD

S & GM CLEMENTS LTD (REGISTERED NUMBER: 05546033)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S & GM CLEMENTS LTD

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTORS: S Clements
Mrs G M Clements





SECRETARY: Mrs G M Clements





REGISTERED OFFICE: 1 Birklands
Beadlam
York
North Yorkshire
YO62 7ST





REGISTERED NUMBER: 05546033 (England and Wales)

S & GM CLEMENTS LTD (REGISTERED NUMBER: 05546033)

STATEMENT OF FINANCIAL POSITION
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 103,106 93,974
103,106 93,974

CURRENT ASSETS
Inventories 9,070 8,646
Debtors 6 78,163 92,728
Prepayments and accrued income 1,819 1,868
Cash at bank 73,254 78,962
162,306 182,204
CREDITORS
Amounts falling due within one year 7 163,009 155,987
NET CURRENT (LIABILITIES)/ASSETS (703 ) 26,217
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,403

120,191

CREDITORS
Amounts falling due after more than one
year

8

(37,269

)

(22,159

)

PROVISIONS FOR LIABILITIES (25,777 ) (23,494 )
NET ASSETS 39,357 74,538

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 39,354 74,535
SHAREHOLDERS' FUNDS 39,357 74,538

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

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

The directors acknowledge their 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.

S & GM CLEMENTS LTD (REGISTERED NUMBER: 05546033)

STATEMENT OF FINANCIAL POSITION - continued
31 May 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 Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:





S Clements - Director


S & GM CLEMENTS LTD (REGISTERED NUMBER: 05546033)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024


1. STATUTORY INFORMATION

S & GM Clements 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have considered the financial resources and commitments of the company and have concluded that there are sufficient resources in place to continue operating for the foreseeable future. The directors therefore consider it appropriate to continue to prepare the accounts on the going concern basis.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, has now been amortised in full.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance and 10% on cost
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value.

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 statement of financial position date.


S & GM CLEMENTS LTD (REGISTERED NUMBER: 05546033)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets acquired under finance lease agreements, including hire purchase agreements, are capitalised and the corresponding liability is included in creditors. Finance lease interest is charged to the profit and loss account on a straight line basis over the period of the agreement. Operating lease rentals are charged against profits of the period to which they relate.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 36,000
AMORTISATION
At 1 June 2023
and 31 May 2024 36,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

S & GM CLEMENTS LTD (REGISTERED NUMBER: 05546033)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


5. PROPERTY, PLANT AND EQUIPMENT
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2023 205,708 3,675 209,383
Additions 34,231 - 34,231
At 31 May 2024 239,939 3,675 243,614
DEPRECIATION
At 1 June 2023 112,256 3,153 115,409
Charge for year 24,969 130 25,099
At 31 May 2024 137,225 3,283 140,508
NET BOOK VALUE
At 31 May 2024 102,714 392 103,106
At 31 May 2023 93,452 522 93,974

The net book value of property, plant and equipment includes £ 73,974 (2023 - £ 75,244 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,663 92,728
Other debtors 500 -
78,163 92,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 16,081 13,415
Trade creditors 15,606 27,525
Taxation and social security 20,427 26,024
Other creditors 110,895 89,023
163,009 155,987

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 37,269 22,159

S & GM CLEMENTS LTD (REGISTERED NUMBER: 05546033)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 53,350 35,574

The directors have provided a personal guarantee to the bank and the hire purchase agreements are secured on the assets under the agreement.