Company registration number 04044220 (England and Wales)
R J CLOUGH & SON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
R J CLOUGH & SON LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
R J CLOUGH & SON LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
392,432
491,485
Current assets
Debtors
5
185,843
215,824
Cash at bank and in hand
178,102
5,039
363,945
220,863
Creditors: amounts falling due within one year
6
(70,607)
(33,333)
Net current assets
293,338
187,530
Total assets less current liabilities
685,770
679,015
Provisions for liabilities
(97,468)
(93,900)
Net assets
588,302
585,115
Capital and reserves
Called up share capital
7
400,002
400,002
Profit and loss reserves
188,300
185,113
Total equity
588,302
585,115
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 and signed by the director and authorised for issue on 16 February 2025
Mr A J Clough
Director
Company registration number 04044220 (England and Wales)
R J CLOUGH & SON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
R J Clough & Son Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Red Scar Works, Primet Street, Burnley Road, Colne, Lancashire, BB8 8EB.
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
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the director continues to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover represents amounts receivable for hire of plant and machinery net of VAT.
1.4
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:
Plant and machinery
10% Reducing balance
Fixtures, fittings & equipment
15% Reducing balance
Computer equipment
15% Reducing balance
Motor vehicles
25% 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.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
R J CLOUGH & SON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
113,322
Amortisation and impairment
At 1 September 2023 and 31 August 2024
113,322
Carrying amount
At 31 August 2024
At 31 August 2023
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
1,199,045
Additions
52,562
Disposals
(270,072)
At 31 August 2024
981,535
Depreciation and impairment
At 1 September 2023
707,560
Depreciation charged in the year
59,822
Eliminated in respect of disposals
(178,279)
At 31 August 2024
589,103
Carrying amount
At 31 August 2024
392,432
At 31 August 2023
491,485
R J CLOUGH & SON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
15,113
25,181
Other debtors
162,834
182,834
Prepayments and accrued income
7,896
7,809
185,843
215,824
Other debtors comprise £162,834 (2023: £182,834) due from a connected company.
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
29,649
11,722
Taxation and social security
37,327
9,932
Other creditors
3,631
11,679
70,607
33,333
Other creditors comprise £483 (2023: £8,791) owed to the director, and £3,148 (2023: 2,888) accruals.
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
400,000 Ordinary A shares of £1 each
400,000
400,000
400,002
400,002