IRIS Accounts Production v25.1.0.734 02217663 director 1.8.23 31.7.24 31.7.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022176632023-07-31022176632024-07-31022176632023-08-012024-07-31022176632022-07-31022176632022-08-012023-07-31022176632023-07-3102217663ns15:EnglandWales2023-08-012024-07-3102217663ns14:PoundSterling2023-08-012024-07-3102217663ns10:Director12023-08-012024-07-3102217663ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3102217663ns10:SmallEntities2023-08-012024-07-3102217663ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3102217663ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3102217663ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3102217663ns10:AbridgedAccounts2023-08-012024-07-3102217663ns10:OrdinaryShareClass12023-08-012024-07-3102217663ns10:CompanySecretary12023-08-012024-07-3102217663ns10:RegisteredOffice2023-08-012024-07-3102217663ns5:CurrentFinancialInstruments2024-07-3102217663ns5:CurrentFinancialInstruments2023-07-3102217663ns5:Non-currentFinancialInstruments2024-07-3102217663ns5:Non-currentFinancialInstruments2023-07-3102217663ns5:ShareCapital2024-07-3102217663ns5:ShareCapital2023-07-3102217663ns5:CapitalRedemptionReserve2024-07-3102217663ns5:CapitalRedemptionReserve2023-07-3102217663ns5:RetainedEarningsAccumulatedLosses2024-07-3102217663ns5:RetainedEarningsAccumulatedLosses2023-07-3102217663ns5:PlantMachinery2023-08-012024-07-3102217663ns5:FurnitureFittings2023-08-012024-07-3102217663ns5:ComputerEquipment2023-08-012024-07-3102217663ns5:WithinOneYear2024-07-3102217663ns5:WithinOneYear2023-07-3102217663ns5:BetweenOneFiveYears2024-07-3102217663ns5:BetweenOneFiveYears2023-07-3102217663ns5:AllPeriods2024-07-3102217663ns5:AllPeriods2023-07-3102217663ns5:Secured2024-07-3102217663ns5:Secured2023-07-3102217663ns10:OrdinaryShareClass12024-07-31
REGISTERED NUMBER: 02217663 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

S. J. CLIFFORD & COMPANY LIMITED

S. J. CLIFFORD & COMPANY LIMITED (REGISTERED NUMBER: 02217663)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


S. J. CLIFFORD & COMPANY LIMITED

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTOR: D J Prescott



SECRETARY: Mrs H Prescott



REGISTERED OFFICE: Unit B
19 Bayton Road
Exhall
Coventry
West Midlands
CV7 9EL



REGISTERED NUMBER: 02217663 (England and Wales)



BANKERS: Lloyds Bank
30 High Street
Coventry
West Midlands
CV1 5RA

S. J. CLIFFORD & COMPANY LIMITED (REGISTERED NUMBER: 02217663)

ABRIDGED BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 34,549 40,651

CURRENT ASSETS
Stocks 122,224 106,124
Debtors 126,524 193,445
Cash at bank and in hand 7,149 20,920
255,897 320,489
CREDITORS
Amounts falling due within one year 250,684 335,571
NET CURRENT ASSETS/(LIABILITIES) 5,213 (15,082 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,762

25,569

CREDITORS
Amounts falling due after more than one
year

9,167

19,167
NET ASSETS 30,595 6,402

CAPITAL AND RESERVES
Called up share capital 7 30,000 30,000
Capital redemption reserve 10,000 10,000
Retained earnings (9,405 ) (33,598 )
SHAREHOLDERS' FUNDS 30,595 6,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

S. J. CLIFFORD & COMPANY LIMITED (REGISTERED NUMBER: 02217663)

ABRIDGED BALANCE SHEET - continued
31 July 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2025 and were signed by:





D J Prescott - Director


S. J. CLIFFORD & COMPANY LIMITED (REGISTERED NUMBER: 02217663)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

S. J. Clifford & Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

At the balance sheet date the company had net current assets of £5,213 (2023 - £15,082 net liabilities) and total net assets of £30,595 (2023 - £6,402).The director has indicated his willingness to support the company and along with the forecasted future profitable trade the business is considered a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Turnover
Turnover comprises the value of sales (excluding value added tax, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership passes to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance and 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

S. J. CLIFFORD & COMPANY LIMITED (REGISTERED NUMBER: 02217663)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 642,026
DEPRECIATION
At 1 August 2023 601,375
Charge for year 6,102
At 31 July 2024 607,477
NET BOOK VALUE
At 31 July 2024 34,549
At 31 July 2023 40,651

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 7,783 7,783
Between one and five years 5,837 13,620
13,620 21,403

S. J. CLIFFORD & COMPANY LIMITED (REGISTERED NUMBER: 02217663)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 19,167 29,167
Due to factors 95,907 152,250
115,074 181,417

The bank loan and overdraft is secured by a personal guarantee given by D J Prescott.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary £1 30,000 30,000

8. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the director and certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £27,441 (2023 - £27,495). Balance outstanding at the year end amounted to £1,317 (2023 - £1,108).