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Registration number: NI627911

C Clarke Graphics Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

C Clarke Graphics Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

C Clarke Graphics Ltd

Company Information

Director

Mr Conor Clarke

Registered office

35 Flagstaff Road
Cloughoge
Newry
Co. Down
BT35 8NR

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants & Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

C Clarke Graphics Ltd

(Registration number: NI627911)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

53,396

59,910

Current assets

 

Stocks

5

67,500

67,500

Debtors

6

17,257

15,650

 

84,757

83,150

Creditors: Amounts falling due within one year

7

(238,313)

(186,588)

Net current liabilities

 

(153,556)

(103,438)

Total assets less current liabilities

 

(100,160)

(43,528)

Creditors: Amounts falling due after more than one year

7

(18,177)

(25,968)

Net liabilities

 

(118,337)

(69,496)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(118,338)

(69,497)

Shareholders' deficit

 

(118,337)

(69,496)

For the financial year ending 30 November 2023 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 February 2025
 

.........................................
Mr Conor Clarke
Director

   
     
 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
35 Flagstaff Road
Cloughoge
Newry
Co. Down
BT35 8NR

These financial statements were authorised for issue by the director on 27 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Asset class

Depreciation method and rate

Fixtures & Fittings

25% straight line

Motor Vehicle

25% straight line

Plant & Machinery

20% Reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 7).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

35,531

56,537

13,395

105,463

At 30 November 2023

35,531

56,537

13,395

105,463

Depreciation

At 1 December 2022

-

34,006

11,547

45,553

Charge for the year

-

4,665

1,849

6,514

At 30 November 2023

-

38,671

13,396

52,067

Carrying amount

At 30 November 2023

35,531

17,866

(1)

53,396

At 30 November 2022

35,531

22,531

1,848

59,910

Included within the net book value of land and buildings above is £35,531 (2022 - £35,531) in respect of freehold land and buildings.
 

5

Stocks

 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2023
£

2022
£

Work in progress

27,500

27,500

Other inventories

40,000

40,000

67,500

67,500

6

Debtors

Current

2023
£

2022
£

Trade debtors

17,256

15,338

Other debtors

1

312

 

17,257

15,650

 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

18,056

40,530

Trade creditors

 

86,718

52,290

Taxation and social security

 

53,956

30,807

Accruals and deferred income

 

2,766

2,709

Other creditors

 

76,817

60,252

 

238,313

186,588

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

18,177

25,968

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

18,177

25,968

Current loans and borrowings

2023
£

2022
£

Bank borrowings

12,432

34,524

Bank overdrafts

5,624

6,006

18,056

40,530

 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £Nil per each Ordinary Share

-

-

 

 

11

Related party transactions

 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr Conor Clarke

Director's loan

(60,146)

19,529

(31,036)

(71,653)

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr Conor Clarke

Director's loan

(38,362)

21,202

(42,986)

(60,146)

 

C Clarke Graphics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,600

9,692

Contributions paid to money purchase schemes

101

104

9,701

9,796

In respect of the highest paid director:

2023
£

2022
£

Remuneration

9,600

9,692

Dividends paid to the director

2023
£

2022
£

Mr Conor Clarke

Dividends

-

-