16 16 Clements Construction Limited 09630365 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is general building contractors Digita Accounts Production Advanced 6.30.9574.0 true 09630365 2023-07-01 2024-06-30 09630365 2024-06-30 09630365 bus:Director2 1 2024-06-30 09630365 bus:Director2 2 2024-06-30 09630365 bus:OrdinaryShareClass1 2024-06-30 09630365 core:FinanceLeases core:CurrentFinancialInstruments 2024-06-30 09630365 core:FinanceLeases core:Non-currentFinancialInstruments 2024-06-30 09630365 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-06-30 09630365 core:CurrentFinancialInstruments 2024-06-30 09630365 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 09630365 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 09630365 core:MotorVehicles 2024-06-30 09630365 core:OfficeEquipment 2024-06-30 09630365 core:PlantMachinery 2024-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-06-30 09630365 bus:SmallEntities 2023-07-01 2024-06-30 09630365 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09630365 bus:FilletedAccounts 2023-07-01 2024-06-30 09630365 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09630365 bus:RegisteredOffice 2023-07-01 2024-06-30 09630365 bus:Director2 2023-07-01 2024-06-30 09630365 bus:Director2 1 2023-07-01 2024-06-30 09630365 bus:Director2 2 2023-07-01 2024-06-30 09630365 bus:HighestPaidDirector 2023-07-01 2024-06-30 09630365 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 09630365 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09630365 core:MotorVehicles 2023-07-01 2024-06-30 09630365 core:OfficeEquipment 2023-07-01 2024-06-30 09630365 core:PlantMachinery 2023-07-01 2024-06-30 09630365 core:VehiclesPlantMachinery 2023-07-01 2024-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-07-01 2024-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:Leases 2023-07-01 2024-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2023-07-01 2024-06-30 09630365 core:EntityWithJointControlOrSignificantInfluence1 2023-07-01 2024-06-30 09630365 core:EntityWithJointControlOrSignificantInfluence2 2023-07-01 2024-06-30 09630365 core:EntityWithJointControlOrSignificantInfluence3 2023-07-01 2024-06-30 09630365 countries:AllCountries 2023-07-01 2024-06-30 09630365 2023-06-30 09630365 bus:Director2 1 2023-06-30 09630365 bus:Director2 2 2023-06-30 09630365 core:MotorVehicles 2023-06-30 09630365 core:OfficeEquipment 2023-06-30 09630365 core:PlantMachinery 2023-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-06-30 09630365 2022-07-01 2023-06-30 09630365 2023-06-30 09630365 bus:Director2 1 2023-06-30 09630365 bus:Director2 2 2023-06-30 09630365 bus:OrdinaryShareClass1 2023-06-30 09630365 core:FinanceLeases core:CurrentFinancialInstruments 2023-06-30 09630365 core:FinanceLeases core:Non-currentFinancialInstruments 2023-06-30 09630365 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 09630365 core:CurrentFinancialInstruments 2023-06-30 09630365 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09630365 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 09630365 core:MotorVehicles 2023-06-30 09630365 core:OfficeEquipment 2023-06-30 09630365 core:PlantMachinery 2023-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-06-30 09630365 bus:Director2 1 2022-07-01 2023-06-30 09630365 bus:Director2 2 2022-07-01 2023-06-30 09630365 bus:HighestPaidDirector 2022-07-01 2023-06-30 09630365 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-07-01 2023-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:Leases 2022-07-01 2023-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2022-07-01 2023-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2022-07-01 2023-06-30 09630365 2022-06-30 09630365 bus:Director2 1 2022-06-30 09630365 bus:Director2 2 2022-06-30 09630365 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 09630365

Clements Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Clements Construction Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 13

 

Clements Construction Limited

(Registration number: 09630365)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

106,347

124,466

Current assets

 

Stocks

5

450,000

450,000

Debtors

6

1,085,414

514,284

Cash at bank and in hand

 

294,433

397,330

 

1,829,847

1,361,614

Creditors: Amounts falling due within one year

7

(828,575)

(675,728)

Net current assets

 

1,001,272

685,886

Total assets less current liabilities

 

1,107,619

810,352

Creditors: Amounts falling due after more than one year

7

(14,096)

(71,386)

Provisions for liabilities

(32,846)

-

Net assets

 

1,060,677

738,966

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,060,577

738,866

Shareholders' funds

 

1,060,677

738,966

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.

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.

 

Clements Construction Limited

(Registration number: 09630365)
Balance Sheet as at 30 June 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 March 2025 and signed on its behalf by:
 

.........................................
Roger Da Costa
Director

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
19 Queensway
Enfield
Middlesex
EN3 4SA
United Kingdom

These financial statements were authorised for issue by the Board on 26 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.

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.

Government grants

Grants received are accounted for using the accrual model and are recognised in the profit and loss in the periods in which the related costs or expenses are recognised.

Tax

The tax expense for the period comprises current and deferred 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.

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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

Motor Vehicles

25% Reducing Balance

Office Equipment

25% Reducing Balance

Plant & Machinery

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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 directors) during the year, was 16 (2023 - 16).

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

-

6,946

215,612

222,558

Additions

9,334

6,022

-

15,356

At 30 June 2024

9,334

12,968

215,612

237,914

Depreciation

At 1 July 2023

-

2,596

95,496

98,092

Charge for the year

1,296

2,236

29,943

33,475

At 30 June 2024

1,296

4,832

125,439

131,567

Carrying amount

At 30 June 2024

8,038

8,136

90,173

106,347

At 30 June 2023

-

4,350

120,116

124,466

5

Stocks

2024
£

2023
£

Work in progress

450,000

450,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,064,076

448,973

Amounts owed by related parties

11

20,000

62,000

Prepayments

 

1,338

3,311

   

1,085,414

514,284

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

47,585

10,191

Trade creditors

 

319,189

350,614

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

60,990

-

Taxation and social security

 

375,541

273,893

Other creditors

 

25,270

41,030

 

828,575

675,728

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

14,096

71,386

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

14,096

71,386

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

15,423

-

Finance lease liabilities

32,162

10,191

47,585

10,191

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £250.00 (2023 - £Nil) per each Ordinary

25,000

-

 

 

11

Related party transactions

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Written off
£

At 30 June 2024
£

Roger Da Costa

Loan to Roger Da Costa

-

38,000

(38,000)

-

-

-

-

-

-

38,000

(38,000)

-

2023

At 1 July 2022
£

Advances to director
£

Written off
£

At 30 June 2023
£

Roger Da Costa

Loan to Roger Da Costa

20,000

10,000

(30,000)

-

-

-

-

-

20,000

10,000

(30,000)

-

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

226,557

229,985

Contributions paid to money purchase schemes

3,562

1,541

230,119

231,526

In respect of the highest paid director:

2024
£

2023
£

Remuneration

135,800

135,800

Dividends paid to directors

2024
£

2023
£

Ian Clements

Interim dividend

6,375

-

 

 

Roger Da Costa

Interim dividend

6,125

-

 

 

Summary of transactions with all entities with joint control or significant interest







 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Summary of transactions with entities with joint control or significant interest

I Clements is a director and ultimate controller of S Clements (Shop Fitters) Limited Construction services were provided to S Clements (Shop Fitters) Limited
All business was conducted on stadard trading terms at a commercial rate.

I Clements is a director and ultimate owner of Clements Property Holdings Limited Clements Property Holdings Limited rents office space to Clements Construction Limited
All services are provided at standard commercial rates.

I Clements and R Da Costa are directors of Clements IT Solutions Limited No services were provided during the current year. There is an outatanding balance from trade in a prior year

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Sale of goods

162,889

2023

Entities with joint control or significant influence
£

Sale of goods

17,090

Expenditure with and payables to related parties

2024

Entities with joint control or significant influence
£

Leases

45,386

2023

Entities with joint control or significant influence
£

Rendering of services

253,376

Leases

34,800

288,176

Loans to related parties

 

Clements Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2024

Entities with joint control or significant influence
£

Total
£

At start of period

145,000

145,000

Repaid

(145,000)

(145,000)

At end of period

-

-

2023

Entities with joint control or significant influence
£

Total
£

At start of period

147,000

147,000

Repaid

(2,000)

(2,000)

At end of period

145,000

145,000

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

Advanced

60,990

60,990

At end of period

60,990

60,990