Company registration number 10522407 (England and Wales)
CLEAR SPAN BUILDINGS LIMITED
Unaudited Financial Statements
for the Year Ended 30 November 2024
CLEAR SPAN BUILDINGS LIMITED
CONTENTS
Page
Company Information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CLEAR SPAN BUILDINGS LIMITED
Company Information
- 1 -
Directors
Ms P Pilkington
Mr J M Saich
Company number
10522407
Registered office
The Grange
Llandrinio
Llanymynech
Wales
SY22 6SG
Accountants
Mitchell Associates Ltd
St Davids House
48 Free Street
Brecon
Powys
UK
LD3 7BN
CLEAR SPAN BUILDINGS LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
708,176
543,403
Current assets
Stocks
4
316,127
119,577
Debtors
5
3,120,262
412,958
Cash at bank and in hand
431,774
485,160
3,868,163
1,017,695
Creditors: amounts falling due within one year
6
(2,756,361)
(107,714)
Net current assets
1,111,802
909,981
Total assets less current liabilities
1,819,978
1,453,384
Creditors: amounts falling due after more than one year
7
(224,000)
(251,563)
Provisions for liabilities
(169,211)
(96,913)
Net assets
1,426,767
1,104,908
Capital and reserves
Called up share capital
4
4
Profit and loss reserves
1,426,763
1,104,904
Total equity
1,426,767
1,104,908
CLEAR SPAN BUILDINGS LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 3 -

For the financial year ended 30 November 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 March 2025 and are signed on its behalf by:
Ms P  Pilkington
Mr J M Saich
Director
Director
Company registration number 10522407 (England and Wales)
CLEAR SPAN BUILDINGS LIMITED
Notes to the Financial Statements
For the Year Ended 30 November 2024
- 4 -
1
Accounting policies
Company information

Clear Span Buildings Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Grange, Llandrinio, Llanymynech, Wales, SY22 6SG.

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
Turnover

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 Turnover when:

The amount of Turnover 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.

1.3
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:

Freehold land and buildings
10% on cost
Plant and equipment
25% on cost
Computers
25% on cost
Motor vehicles
25% on cost

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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CLEAR SPAN BUILDINGS LIMITED
Notes to the Financial Statements
For the Year Ended 30 November 2024
1
Accounting policies
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CLEAR SPAN BUILDINGS LIMITED
Notes to the Financial Statements
For the Year Ended 30 November 2024
1
Accounting policies
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
9
CLEAR SPAN BUILDINGS LIMITED
Notes to the Financial Statements
For the Year Ended 30 November 2024
- 7 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
463,646
431,506
5,607
213,368
1,114,127
Additions
154,301
28,133
1,667
133,236
317,337
Disposals
-
0
-
0
-
0
(25,485)
(25,485)
At 30 November 2024
617,947
459,639
7,274
321,119
1,405,979
Depreciation and impairment
At 1 December 2023
96,861
343,091
2,168
128,604
570,724
Depreciation charged in the year
61,795
42,665
1,365
40,368
146,193
Eliminated in respect of disposals
-
0
-
0
-
0
(19,114)
(19,114)
At 30 November 2024
158,656
385,756
3,533
149,858
697,803
Carrying amount
At 30 November 2024
459,291
73,883
3,741
171,261
708,176
At 30 November 2023
366,784
88,415
3,439
84,765
543,403
4
Stocks
2024
2023
£
£
Stocks
316,127
119,577
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,091,008
397,459
Prepayments and accrued income
29,254
15,499
3,120,262
412,958
CLEAR SPAN BUILDINGS LIMITED
Notes to the Financial Statements
For the Year Ended 30 November 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,698,564
53,544
Taxation and social security
871,084
43,495
Other creditors
186,713
10,675
2,756,361
107,714
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
224,000
251,563
8
Loans and overdrafts
2024
2023
£
£
Other loans
224,000
251,563
Payable after one year
224,000
251,563

Clear Span Pension scheme Loan is denominated in GBP and the final instalment is due 5 years from the anniversary of the drawdown, Interest is payable at 7.5% per annum.

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