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REGISTERED NUMBER: 00382424 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Edward Clay & Son Limited

Edward Clay & Son Limited (Registered number: 00382424)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3

Accountants' Report 7

Edward Clay & Son Limited (Registered number: 00382424)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,590,326 2,715,792
Investment property 6 250,000 250,000
3,840,326 2,965,792

CURRENT ASSETS
Stocks 89,708 67,186
Debtors 7 1,647,712 1,453,468
Cash at bank and in hand 690,360 673,460
2,427,780 2,194,114
CREDITORS
Amounts falling due within one year 8 1,635,419 1,438,061
NET CURRENT ASSETS 792,361 756,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,632,687

3,721,845

CREDITORS
Amounts falling due after more than one year 9 (1,182,173 ) (1,220,351 )

PROVISIONS FOR LIABILITIES (340,264 ) (109,799 )
NET ASSETS 3,110,250 2,391,695

CAPITAL AND RESERVES
Called up share capital 17,000 17,000
Fair value reserve 103,634 103,634
Retained earnings 2,989,616 2,271,061
SHAREHOLDERS' FUNDS 3,110,250 2,391,695

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

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

The directors acknowledge their 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.

Edward Clay & Son Limited (Registered number: 00382424)

Balance Sheet - continued
31 August 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





E H Clay - Director


Edward Clay & Son Limited (Registered number: 00382424)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Edward Clay & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00382424

Registered office: Wesley Street
Ossett
West Yorkshire
WF5 8EX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover relates to the sale of a wide range of felt, fibre pads and rolls and related products for textile fillings, and springs. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is amortised over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance, 10% on cost and 15 years straight line
Fixtures and fittings - 20% on cost, 10% on cost and 5% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Edward Clay & Son Limited (Registered number: 00382424)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Research and development expenditure
Research and development expenditure is written off as incurred, except that development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 9,000
AMORTISATION
At 1 September 2023
and 31 August 2024 9,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

Edward Clay & Son Limited (Registered number: 00382424)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 2,902,433 2,472,425 289,192 377,534 6,041,584
Additions - 878,405 5,757 135,230 1,019,392
Disposals - (104,237 ) (22,250 ) (70,816 ) (197,303 )
At 31 August 2024 2,902,433 3,246,593 272,699 441,948 6,863,673
DEPRECIATION
At 1 September 2023 601,597 2,223,727 219,516 280,952 3,325,792
Charge for year 57,841 20,084 10,214 33,649 121,788
Eliminated on disposal - (95,640 ) (13,844 ) (64,749 ) (174,233 )
At 31 August 2024 659,438 2,148,171 215,886 249,852 3,273,347
NET BOOK VALUE
At 31 August 2024 2,242,995 1,098,422 56,813 192,096 3,590,326
At 31 August 2023 2,300,836 248,698 69,676 96,582 2,715,792

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 250,000
NET BOOK VALUE
At 31 August 2024 250,000
At 31 August 2023 250,000

Investment property is held at its fair value based on an open market valuation carried out by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 1,542,923 1,166,692
Other debtors 104,789 286,776
1,647,712 1,453,468

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 68,985 63,824
Hire purchase contracts 3,926 865
Trade creditors 1,040,381 980,163
Taxation and social security 368,734 274,618
Other creditors 153,393 118,591
1,635,419 1,438,061

Edward Clay & Son Limited (Registered number: 00382424)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 1,150,583 1,219,571
Hire purchase contracts 31,590 -
Other creditors - 780
1,182,173 1,220,351

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 1,219,568 1,283,395
Hire purchase contracts 35,516 865
1,255,084 1,284,260

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Edward Clay & Son Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Edward Clay & Son Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Edward Clay & Son Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Edward Clay & Son Limited and state those matters that we have agreed to state to the Board of Directors of Edward Clay & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Edward Clay & Son Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Edward Clay & Son 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 profit of Edward Clay & Son Limited. You consider that Edward Clay & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Edward Clay & Son 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.






Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ


20 May 2025