Registered number
07806557
Clitheroe Agricultural Engineering Ltd
Filleted Accounts
31 October 2024
Clitheroe Agricultural Engineering Ltd
Registered number: 07806557
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 927 1,699
Current assets
Stocks 5,567 8,661
Debtors 4 2,429 3,315
Cash at bank and in hand 11,716 10,991
19,712 22,967
Creditors: amounts falling due within one year 5 (40,721) (46,394)
Net current liabilities (21,009) (23,427)
Total assets less current liabilities (20,082) (21,728)
Provisions for liabilities (176) -
Net liabilities (20,258) (21,728)
Capital and reserves
Called up share capital 100 100
Profit and loss account (20,358) (21,828)
Shareholders' funds (20,258) (21,728)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MJ Clitheroe
Director
Approved by the board on 14 April 2025
Clitheroe Agricultural Engineering Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3-10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 6,600 16,500 23,100
At 31 October 2024 6,600 16,500 23,100
Depreciation
At 1 November 2023 5,830 15,571 21,401
Charge for the year 540 232 772
At 31 October 2024 6,370 15,803 22,173
Net book value
At 31 October 2024 230 697 927
At 31 October 2023 770 929 1,699
4 Debtors 2024 2023
£ £
Trade debtors 1,136 1,883
Other debtors 1,293 1,432
2,429 3,315
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 112 112
Trade creditors 338 928
Taxation and social security costs 807 1,391
Other creditors 39,464 43,963
40,721 46,394
6 Controlling party
The company is controlled by M Clitheroe the director.
7 Other information
Clitheroe Agricultural Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
First Floor, 12 St. John's Way
St. John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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