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Registered number: 05393360
Clarks Construction Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05393360
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,184 40,381
34,184 40,381
CURRENT ASSETS
Debtors 5 587,680 764,055
Cash at bank and in hand 172,852 195,019
760,532 959,074
Creditors: Amounts Falling Due Within One Year 6 (587,326 ) (682,381 )
NET CURRENT ASSETS (LIABILITIES) 173,206 276,693
TOTAL ASSETS LESS CURRENT LIABILITIES 207,390 317,074
Creditors: Amounts Falling Due After More Than One Year 7 (28,103 ) (45,757 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,546 ) (7,672 )
NET ASSETS 170,741 263,645
CAPITAL AND RESERVES
Called up share capital 9 602 602
Share premium account 59,337 59,337
Profit and Loss Account 110,802 203,706
SHAREHOLDERS' FUNDS 170,741 263,645
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S C Clark
Director
25/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Clarks Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05393360 . The registered office is Whitehill Wood Dunstable Road, Flamstead, St. Albans, AL3 8EY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.5. 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.
2.6. Pensions
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 63,098 56,376 119,474
Additions - 5,197 5,197
As at 31 May 2024 63,098 61,573 124,671
Depreciation
As at 1 June 2023 35,089 44,004 79,093
Provided during the period 7,002 4,392 11,394
As at 31 May 2024 42,091 48,396 90,487
Net Book Value
As at 31 May 2024 21,007 13,177 34,184
As at 1 June 2023 28,009 12,372 40,381
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 379,916 547,063
Prepayments and accrued income 8,356 18,247
Amounts owed by group undertakings 199,408 198,745
587,680 764,055
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 5,528
Trade creditors 432,487 380,838
Bank loans and overdrafts 17,496 16,430
Corporation tax 16,971 54,027
Other taxes and social security 29,479 24,539
VAT 71,491 168,400
Other creditors 19,402 32,619
587,326 682,381
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 28,103 45,757
Page 4
Page 5
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 5,528
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 602 602
Page 5