Clifton Canvas Developments Limited 03419551 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the manufacturing of canvas products. Digita Accounts Production Advanced 6.30.9574.0 true true 03419551 2023-07-01 2024-06-30 03419551 2024-06-30 03419551 core:CurrentFinancialInstruments 2024-06-30 03419551 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 03419551 core:FurnitureFittings 2024-06-30 03419551 core:MotorVehicles 2024-06-30 03419551 core:OfficeEquipment 2024-06-30 03419551 core:PlantMachinery 2024-06-30 03419551 1 2024-06-30 03419551 bus:SmallEntities 2023-07-01 2024-06-30 03419551 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 03419551 bus:FilletedAccounts 2023-07-01 2024-06-30 03419551 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03419551 bus:RegisteredOffice 2023-07-01 2024-06-30 03419551 bus:CompanySecretary1 2023-07-01 2024-06-30 03419551 bus:Director2 2023-07-01 2024-06-30 03419551 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03419551 core:ComputerEquipment 2023-07-01 2024-06-30 03419551 core:FurnitureFittings 2023-07-01 2024-06-30 03419551 core:MotorCars 2023-07-01 2024-06-30 03419551 core:MotorVehicles 2023-07-01 2024-06-30 03419551 core:OfficeEquipment 2023-07-01 2024-06-30 03419551 core:PlantMachinery 2023-07-01 2024-06-30 03419551 countries:EnglandWales 2023-07-01 2024-06-30 03419551 1 2023-07-01 2024-06-30 03419551 2023-06-30 03419551 core:FurnitureFittings 2023-06-30 03419551 core:MotorVehicles 2023-06-30 03419551 core:OfficeEquipment 2023-06-30 03419551 core:PlantMachinery 2023-06-30 03419551 1 2023-06-30 03419551 2022-07-01 2023-06-30 03419551 2023-06-30 03419551 core:CurrentFinancialInstruments 2023-06-30 03419551 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 03419551 core:FurnitureFittings 2023-06-30 03419551 core:MotorVehicles 2023-06-30 03419551 core:OfficeEquipment 2023-06-30 03419551 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 03419551

Clifton Canvas Developments Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Clifton Canvas Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Clifton Canvas Developments Limited

Company Information

Director

J A Tolfree

Company secretary

K J Tolfree

Registered office

Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Clifton Canvas Developments Limited

(Registration number: 03419551)
Balance Sheet
30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

61,118

65,484

Current assets

 

Stocks

5

18,000

20,000

Debtors

6

405,056

83,916

Cash at bank and in hand

 

650,795

1,173,752

 

1,073,851

1,277,668

Creditors: Amounts falling due within one year

7

(458,564)

(538,276)

Net current assets

 

615,287

739,392

Total assets less current liabilities

 

676,405

804,876

Provisions for liabilities

(16,653)

(4,406)

Net assets

 

659,752

800,470

Capital and reserves

 

Called up share capital

163

163

Share premium reserve

382,085

382,085

Retained earnings

277,504

418,222

Shareholders' funds

 

659,752

800,470

 

Clifton Canvas Developments Limited

(Registration number: 03419551)
Balance Sheet
30 June 2024

For the financial year ending 30 June 2024 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 3 March 2025
 

.........................................
J A Tolfree
Director

 

Clifton Canvas Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the director on 3 March 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

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

 

Clifton Canvas Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax and is recognised in profit or loss.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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:

Asset class

Depreciation method and rate

Office equipment

33.3% per annum straight line

Fixtures and fittings

25% per annum reducing balance

Motor vehicles

25% per annum reducing balance

Plant and machinery

25% per annum reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Clifton Canvas Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business and are are recognised initially at the transaction price.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest expense is recognised in the profit and loss account 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 6).

 

Clifton Canvas Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

4,543

136,450

7,979

33,538

182,510

Additions

-

16,010

-

-

16,010

At 30 June 2024

4,543

152,460

7,979

33,538

198,520

Depreciation

At 1 July 2023

3,465

81,001

7,979

24,581

117,026

Charge for the year

270

17,866

-

2,240

20,376

At 30 June 2024

3,735

98,867

7,979

26,821

137,402

Carrying amount

At 30 June 2024

808

53,593

-

6,717

61,118

At 30 June 2023

1,078

55,449

-

8,957

65,484

 

Clifton Canvas Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

5

Stocks

2024
£

2023
£

Other inventories

18,000

20,000

6

Debtors

2024
£

2023
£

Trade debtors

111,292

71,058

Other debtors

277,727

1,700

Prepayments

16,037

11,158

405,056

83,916

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

42,518

72,670

Taxation and social security

45,251

38,329

Accruals and deferred income

14,296

4,190

Other creditors

356,499

423,087

458,564

538,276

 

Clifton Canvas Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

8

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Loan to a director with interest charged and loan repaid after the year end

-

1,203,020

(926,992)

276,028