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Registration number: 08546404

Ian Clarke (Medbourne) Limited

Unaudited Abridged Financial Statements

(Companies House version)

for the Year Ended 31 March 2024

 

Ian Clarke (Medbourne) Limited

Contents

Accountants' Report

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ian Clarke (Medbourne) Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ian Clarke (Medbourne) Limited for the year ended 31 March 2024 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Ian Clarke (Medbourne) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ian Clarke (Medbourne) Limited and state those matters that we have agreed to state to the Board of Directors of Ian Clarke (Medbourne) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ian Clarke (Medbourne) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ian Clarke (Medbourne) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ian Clarke (Medbourne) Limited. You consider that Ian Clarke (Medbourne) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ian Clarke (Medbourne) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

5 January 2025

 

Ian Clarke (Medbourne) Limited

(Registration number: 08546404)
Abridged Balance Sheet as at 31 March 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

6,540

 

6,815

Current assets

   

 

Stock & WIP

27,450

 

45,400

 

Debtors

42,641

 

47,703

 

Cash at bank and in hand

 

237,754

 

118,821

 

 

307,845

 

211,924

 

Creditors: Amounts falling due within one year

(121,590)

 

(76,113)

 

Net current assets

   

186,255

 

135,811

Total assets less current liabilities

   

192,795

 

142,626

Provisions for liabilities

 

(2,347)

 

(1,295)

Net assets

   

190,448

 

141,331

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

190,348

 

141,231

 

Total equity

   

190,448

 

141,331

 

Ian Clarke (Medbourne) Limited

(Registration number: 08546404)
Abridged Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 5 January 2025 and signed on its behalf by:
 

.........................................
Mr I M Clarke
Director

 

Ian Clarke (Medbourne) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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:
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

These financial statements were authorised for issue by the Board on 5 January 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.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Ian Clarke (Medbourne) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

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 provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line basis

Other property, plant and equipment

20% straight line basis

Furniture, fittings and equipment

25% straight line basis

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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

During the year, the average number of employees at the company was 4 (2023 - 5).

 

Ian Clarke (Medbourne) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,196

3,350

33,056

38,602

Additions

-

-

1,747

1,747

At 31 March 2024

2,196

3,350

34,803

40,349

Depreciation

At 1 April 2023

1,256

3,275

27,256

31,787

Charge for the year

240

25

1,757

2,022

At 31 March 2024

1,496

3,300

29,013

33,809

Carrying amount

At 31 March 2024

700

50

5,790

6,540

At 31 March 2023

940

75

5,800

6,815