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Registered number: 11184678
Clayton Equipment Group Limited
Unaudited Financial Statements
For the Period 1 March 2023 to 31 August 2024
CSM Financial Consultancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11184678
31 August 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 750,000 23,000
750,000 23,000
CURRENT ASSETS
Debtors 5 67,185 845,000
Cash at bank and in hand 2,093 9,877
69,278 854,877
Creditors: Amounts Falling Due Within One Year 6 (1 ) -
NET CURRENT ASSETS (LIABILITIES) 69,277 854,877
TOTAL ASSETS LESS CURRENT LIABILITIES 819,277 877,877
NET ASSETS 819,277 877,877
CAPITAL AND RESERVES
Called up share capital 7 23,000 23,000
Profit and Loss Account 796,277 854,877
SHAREHOLDERS' FUNDS 819,277 877,877
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For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Steve Gretton
Director
12/12/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Clayton Equipment Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11184678 . The registered office is Unit 2a Second Avenue, Centrum One Hundred, Burton-On-Trent, Staffordshire, DE14 2WF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Financial Instruments
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion
of the company.
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the
dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising
on translation in the period are included in profit or loss
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and ionclude cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.3. Fixed Asset Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company.Control is the power to govern the financial and operationg policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the comlany holds a long-term interestand where the company has significant influence. The company considers that it has sognoficant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangment are classified as jointly controlled entities.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2023: 1)
1 1
4. Investments
Subsidiaries
£
Cost
As at 1 March 2023 23,000
Additions 727,000
As at 31 August 2024 750,000
Provision
As at 1 March 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 750,000
As at 1 March 2023 23,000
5. Debtors
31 August 2024 28 February 2023
£ £
Due within one year
Amounts owed by group undertakings 67,185 841,428
Other debtors - 3,572
67,185 845,000
6. Creditors: Amounts Falling Due Within One Year
31 August 2024 28 February 2023
£ £
Trade creditors 1 -
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7. Share Capital
31 August 2024 28 February 2023
£ £
Allotted, Called up and fully paid 23,000 23,000
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Steve Gretton 3,572 - - - -
The above loan is unsecured, interest free and repayable on demand.
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