Company registration number 15207191 (England and Wales)
CLEWORTH BUILDING SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
CLEWORTH BUILDING SUPPLIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 9
CLEWORTH BUILDING SUPPLIES LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CLEWORTH BUILDING SUPPLIES LIMITED FOR THE PERIOD ENDED 31 OCTOBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cleworth Building Supplies Limited for the period ended 31 October 2024 which comprise, the balance sheet and the related notes 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 https://www.icaew.com/regulation.

This report is made solely to the board of directors of Cleworth Building Supplies Limited, as a body, in accordance with the terms of our engagement letter dated 26 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Cleworth Building Supplies Limited and state those matters that we have agreed to state to the board of directors of Cleworth Building Supplies 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 Cleworth Building Supplies Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Cleworth Building Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cleworth Building Supplies Limited. You consider that Cleworth Building Supplies Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Cleworth Building Supplies 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 financial statements.

Carpenter Box
9 April 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
CLEWORTH BUILDING SUPPLIES LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
Notes
£
£
Fixed assets
Tangible assets
4
142,685
Current assets
Stocks
153,935
Debtors
5
133,397
Cash at bank and in hand
15,521
302,853
Creditors: amounts falling due within one year
6
(484,522)
Net current liabilities
(181,669)
Total assets less current liabilities
(38,984)
Creditors: amounts falling due after more than one year
7
(34,014)
Net liabilities
(72,998)
Capital and reserves
Called up share capital
8
1
Profit and loss reserves
(72,999)
Total equity
(72,998)

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

For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 9 April 2025 and are signed on its behalf by:
Mr R Cleworth
Director
Company registration number 15207191 (England and Wales)
CLEWORTH BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Cleworth Building Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Common (Turn in Behind 'The Cranley Hotel'), High Street, Cranleigh, Surrey, United Kingdom, GU6 8RZ.

1.1
Reporting period

The reporting period is from the incorporation date 12 October 2023 to 31 October 2024.

1.2
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.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties and the impact of subsequent events in making their assessment. true

At the balance sheet date the company is in a net current liabilities position. The company is reliant on the ongoing support of its directors and is meeting its liabilities as they fall due. The financial statements do not include any adjustments that would result in the withdrawal of their support.

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Other intangibles
1 year straight line
CLEWORTH BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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:

Leasehold land and buildings
10 year straight line and 6 year straight line
Leasehold improvements
10 year straight line and 6 year straight line
Plant and equipment
10 year straight line
Fixtures and fittings
5 year straight line
Computers
10 year straight line and 5 year straight line
Motor vehicles
20% diminishing balance basis per annum

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.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.9
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year.

CLEWORTH BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.13
Retirement benefits

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

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 8.

CLEWORTH BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 6 -
3
Intangible fixed assets
Other intangibles
£
Cost
At 12 October 2023
-
0
Additions
4
At 31 October 2024
4
Amortisation and impairment
At 12 October 2023
-
0
Amortisation charged for the period
4
At 31 October 2024
4
Carrying amount
At 31 October 2024
-
0
CLEWORTH BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 7 -
4
Tangible fixed assets
Leasehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 12 October 2023
-
0
-
0
-
0
-
0
-
0
-
0
-
0
Additions
24,008
2,243
17,787
2,013
2,342
150,546
198,939
Disposals
-
0
-
0
-
0
-
0
-
0
(29,959)
(29,959)
At 31 October 2024
24,008
2,243
17,787
2,013
2,342
120,587
168,980
Depreciation and impairment
At 12 October 2023
-
0
-
0
-
0
-
0
-
0
-
0
-
0
Depreciation charged in the period
1,724
175
1,752
160
350
23,006
27,167
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
-
0
(872)
(872)
At 31 October 2024
1,724
175
1,752
160
350
22,134
26,295
Carrying amount
At 31 October 2024
22,284
2,068
16,035
1,853
1,992
98,453
142,685
CLEWORTH BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 8 -
5
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
60,590
Other debtors
57,807
118,397
2024
Amounts falling due after more than one year:
£
Deferred tax asset
15,000
Total debtors
133,397
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
131,394
Taxation and social security
37,677
Other creditors
315,451
484,522

Included within other creditors is £25,773 in relation to hire purchase contracts secured over the underlying asset.

7
Creditors: amounts falling due after more than one year
2024
£
Other creditors
34,014

Other creditors represents amounts owed under hire purchase contracts secured over the underlying asset.

8
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1
CLEWORTH BUILDING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 9 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
£
393,718
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