Clough Harris Limited 04499620 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of construction services. Digita Accounts Production Advanced 6.30.9574.0 true true 04499620 2023-09-01 2024-08-31 04499620 2024-08-31 04499620 core:RetainedEarningsAccumulatedLosses 2024-08-31 04499620 core:ShareCapital 2024-08-31 04499620 core:CurrentFinancialInstruments 2024-08-31 04499620 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04499620 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 04499620 core:FurnitureFittings 2024-08-31 04499620 core:MotorVehicles 2024-08-31 04499620 core:OfficeEquipment 2024-08-31 04499620 bus:SmallEntities 2023-09-01 2024-08-31 04499620 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04499620 bus:FilletedAccounts 2023-09-01 2024-08-31 04499620 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04499620 bus:RegisteredOffice 2023-09-01 2024-08-31 04499620 bus:Director1 2023-09-01 2024-08-31 04499620 bus:Director2 2023-09-01 2024-08-31 04499620 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04499620 core:FurnitureFittings 2023-09-01 2024-08-31 04499620 core:MotorVehicles 2023-09-01 2024-08-31 04499620 core:OfficeEquipment 2023-09-01 2024-08-31 04499620 countries:EnglandWales 2023-09-01 2024-08-31 04499620 2023-08-31 04499620 core:FurnitureFittings 2023-08-31 04499620 core:MotorVehicles 2023-08-31 04499620 core:OfficeEquipment 2023-08-31 04499620 2022-09-01 2023-08-31 04499620 2023-08-31 04499620 core:RetainedEarningsAccumulatedLosses 2023-08-31 04499620 core:ShareCapital 2023-08-31 04499620 core:CurrentFinancialInstruments 2023-08-31 04499620 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04499620 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04499620 core:FurnitureFittings 2023-08-31 04499620 core:MotorVehicles 2023-08-31 04499620 core:OfficeEquipment 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 04499620

Clough Harris Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Clough Harris Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Clough Harris Limited

Company Information

Directors

Mr BM Harris

Mr GB Clough

Registered office

1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Clough Harris Limited

(Registration number: 04499620)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,673

12,986

Current assets

 

Stocks

5

16,627

42,652

Debtors

6

417,545

307,305

Cash at bank and in hand

 

157,399

236,966

 

591,571

586,923

Creditors: Amounts falling due within one year

7

(350,621)

(323,562)

Net current assets

 

240,950

263,361

Total assets less current liabilities

 

251,623

276,347

Creditors: Amounts falling due after more than one year

7

(8,467)

(10,669)

Provisions for liabilities

(2,667)

(3,246)

Net assets

 

240,489

262,432

Capital and reserves

 

Called up share capital

38

38

Retained earnings

240,451

262,394

Shareholders' funds

 

240,489

262,432

 

Clough Harris Limited

(Registration number: 04499620)
Balance Sheet as at 31 August 2024 (continued)

For the financial year ending 31 August 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.

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

.........................................
Mr BM Harris
Director

   
     
 

Clough Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ
United Kingdom

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 and there are no material uncertainties that cast significant doubt on the Company's ability to continue as a going concern.

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

 

Clough Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Government grants

Grants are accounted for under the accruals model permitted by FRS102. Grants relating to expenditure on tangible assets are credited to the profit and loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method.

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

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.

 

Clough Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Fixtures and fittings

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.

 

Clough Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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 and hire purchase contracts

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.

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.

Assets obtained under hire purchase contracts are capitilaised as tangible fixed assets and are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods and the finance element is charged to profit and loss account.

 

Clough Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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.

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

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

4,276

5,500

38,630

48,406

Additions

1,077

167

-

1,244

At 31 August 2024

5,353

5,667

38,630

49,650

Depreciation

At 1 September 2023

2,235

3,722

29,463

35,420

Charge for the year

779

486

2,292

3,557

At 31 August 2024

3,014

4,208

31,755

38,977

Carrying amount

At 31 August 2024

2,339

1,459

6,875

10,673

At 31 August 2023

2,041

1,778

9,167

12,986

 

Clough Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets (continued)

The net book value of assets held under finance leases or hire purchase agreements is £6,875 (2023 - £9,167).

5

Stocks

2024
£

2023
£

Work in progress

16,627

42,652

6

Debtors

Current

2024
£

2023
£

Trade debtors

402,038

301,115

Prepayments

14,068

6,190

Other debtors

1,439

-

 

417,545

307,305

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

85,324

82,525

Trade creditors

 

18,722

42,530

Taxation and social security

 

229,732

184,432

Accruals and deferred income

 

3,790

3,678

Other creditors

 

13,053

10,397

 

350,621

323,562

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

8,467

10,669

 

Clough Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

8,467

10,669

Current loans and borrowings

2024
£

2023
£

Directors current account

82,232

79,664

Hire purchase liabilities

3,092

2,861

85,324

82,525

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £2,941 (2023 - £2,941).

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions of £427 (2023 - £576).