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REGISTERED NUMBER: 06685243 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 September 2024

for

Clements Finance Limited

Clements Finance Limited (Registered number: 06685243)

Contents of the Financial Statements
For The Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clements Finance Limited

Company Information
For The Year Ended 30 September 2024







DIRECTOR: Mr M R Clements





REGISTERED OFFICE: 7 Billing Road
Northampton
NORTHAMPTONSHIRE
NN1 5AN





REGISTERED NUMBER: 06685243 (England and Wales)





ACCOUNTANTS: Harris & Clarke LLP
7 Billing Road
Northampton
NORTHAMPTONSHIRE
NN1 5AN

Clements Finance Limited (Registered number: 06685243)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 65,768 82,971

CURRENT ASSETS
Debtors 5 8,976 10,709
Cash at bank 207,339 190,823
216,315 201,532
CREDITORS
Amounts falling due within one year 6 40,246 35,920
NET CURRENT ASSETS 176,069 165,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,837

248,583

CREDITORS
Amounts falling due after more than one year 7 59,547 89,548
NET ASSETS 182,290 159,035

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 182,289 159,034
SHAREHOLDERS' FUNDS 182,290 159,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Clements Finance Limited (Registered number: 06685243)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2024 and were signed by:





Mr M R Clements - Director


Clements Finance Limited (Registered number: 06685243)

Notes to the Financial Statements
For The Year Ended 30 September 2024


1. STATUTORY INFORMATION

Clements Finance 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Clements Finance Limited (Registered number: 06685243)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 119,337
Additions 4,224
At 30 September 2024 123,561
DEPRECIATION
At 1 October 2023 36,366
Charge for year 21,427
At 30 September 2024 57,793
NET BOOK VALUE
At 30 September 2024 65,768
At 30 September 2023 82,971

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 103,676
DEPRECIATION
At 1 October 2023 25,919
Charge for year 19,439
At 30 September 2024 45,358
NET BOOK VALUE
At 30 September 2024 58,318
At 30 September 2023 77,757

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 8,976 8,804

Clements Finance Limited (Registered number: 06685243)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024


5. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors - 1,905

Aggregate amounts 8,976 10,709

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 20,000 20,000
Taxation and social security 5,900 2,437
Other creditors 4,346 3,483
40,246 35,920

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,166 19,167
Hire purchase contracts 28,358 48,358
Other creditors 22,023 22,023
59,547 89,548