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Registration number: 00097734

Clarks (Wantage) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Clarks (Wantage) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Clarks (Wantage) Limited

(Registration number: 00097734)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

1

Tangible assets

5

-

29,595

 

-

29,596

Current assets

 

Debtors

6

415,325

454,553

Cash at bank and in hand

 

114,089

129,210

 

529,414

583,763

Creditors: Amounts falling due within one year

7

(195,347)

(323,046)

Net current assets

 

334,067

260,717

Total assets less current liabilities

 

334,067

290,313

Provisions for liabilities

-

(7,399)

Net assets

 

334,067

282,914

Capital and reserves

 

Called up share capital

8

14,000

14,000

Capital redemption reserve

8,062

8,062

Other reserves

79

79

Retained earnings

311,926

260,773

Shareholders' funds

 

334,067

282,914

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.

 

Clarks (Wantage) Limited

(Registration number: 00097734)
Balance Sheet as at 31 August 2024

Approved and authorised by the Board on 19 May 2025 and signed on its behalf by:

.........................................

Mr W P Munsey
Company secretary and director

 

Clarks (Wantage) 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:
Osney Mill
Mill Street
Wantage
OX2 9PX

These financial statements were authorised for issue by the Board on 19 May 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Clarks (Wantage) Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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

Plant and Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Office fixtures and fittings

10% Reducing Balance

Computer Equipment

33.33% Reducing Balance

Goodwill

Goodwill has been written down to £1.

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 in the ordinary course of business.

Trade debtors are recognised initially at the transation price. 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.

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 at the transaction price.

 

Clarks (Wantage) Limited

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

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.

 

Clarks (Wantage) Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 17).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

2,500

2,500

Disposals

(2,500)

(2,500)

At 31 August 2024

-

-

Amortisation

At 1 September 2023

2,499

2,499

Amortisation eliminated on disposals

(2,499)

(2,499)

At 31 August 2024

-

-

Carrying amount

At 31 August 2024

-

-

At 31 August 2023

1

1

 

Clarks (Wantage) Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

942,216

64,320

1,006,536

Disposals

(942,216)

(64,320)

(1,006,536)

At 31 August 2024

-

-

-

Depreciation

At 1 September 2023

926,867

50,074

976,941

Eliminated on disposal

(926,867)

(50,074)

(976,941)

At 31 August 2024

-

-

-

Carrying amount

At 31 August 2024

-

-

-

At 31 August 2023

15,349

14,246

29,595

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

-

63,989

Amounts owed by group undertakings

10

415,325

382,226

Prepayments

 

-

7,617

Other debtors

 

-

721

 

415,325

454,553

 

Clarks (Wantage) Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

14,188

5,729

Accruals and deferred income

6,750

11,850

Other creditors

174,409

305,467

195,347

323,046

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

9,000

9,000

9,000

9,000

Preference shares of £1 each

5,000

5,000

5,000

5,000

14,000

14,000

14,000

14,000

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil (2023 - £22.22) per each ordinary £1 share

-

500,000

 

 

10

Related party transactions

Summary of transactions with other related parties


 Handelsbanken hold a debenture over the fixed and floating assets of Clarks (Wantage) Limited in favour of W H Munsey Limited.

At the balance sheet date the amount due from W H Munsey Limited was £252,985 (2023 - £382,226)
 

 

Clarks (Wantage) Limited

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

11

Parent and ultimate parent undertaking

The company's immediate parent is W H Munsey Limited, incorporated in England.

 The ultimate controlling party is W P Munsey, Director.