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Registration number: 00863439

Clamcleats Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Clamcleats Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Clamcleats Limited

Company Information

Directors

Mr Julian Rupert Emery

Mrs Fiona Elizabeth Mary Emery

Mr Dale Emery

Mrs Sarah Lucy Walker

Company secretary

Mrs Fiona Elizabeth Mary Emery

Registered office

Watchmead
Welwyn Garden City
Hertfordshire
AL7 1AP

Accountants

RS Partnership Ltd
Chartered Certified Accountants10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Clamcleats Limited

(Registration number: 00863439)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

808,911

845,703

Current assets

 

Stocks

6

230,588

277,315

Debtors

7

586,023

1,224,494

Cash at bank and in hand

 

1,688,463

1,424,481

 

2,505,074

2,926,290

Creditors: Amounts falling due within one year

8

(786,133)

(997,518)

Net current assets

 

1,718,941

1,928,772

Total assets less current liabilities

 

2,527,852

2,774,475

Provisions for liabilities

(40,424)

(94,240)

Net assets

 

2,487,428

2,680,235

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

2,486,428

2,679,235

Shareholders' funds

 

2,487,428

2,680,235

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

 

Clamcleats Limited

(Registration number: 00863439)
Balance Sheet as at 31 August 2024

.........................................
Mr Dale Emery
Director

 

Clamcleats 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 & Wales.

The address of its registered office is:
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1AP
UK

The principal place of business is:
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1AP
UK

These financial statements were authorised for issue by the Board on 28 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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

 

Clamcleats Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, other than land and properties under construction over their estimated useful lives, as follows:

 

Clamcleats Limited

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

Asset class

Depreciation method and rate

Freehold Property

2% straight line

Plant & machinery

10% straight line

Motor vehicles

20% straight line

Office equipment

25% straight line

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 or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Clamcleats 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 45 (2023 - 45).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

116,285

112,681

 

Clamcleats Limited

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

560,389

48,442

13,092

1,479,862

2,101,785

Additions

-

-

-

79,494

79,494

Disposals

-

-

-

(16,000)

(16,000)

At 31 August 2024

560,389

48,442

13,092

1,543,356

2,165,279

Depreciation

At 1 September 2023

233,354

33,269

13,092

976,367

1,256,082

Charge for the year

7,193

6,885

-

102,208

116,286

Eliminated on disposal

-

-

-

(16,000)

(16,000)

At 31 August 2024

240,547

40,154

13,092

1,062,575

1,356,368

Carrying amount

At 31 August 2024

319,842

8,288

-

480,781

808,911

At 31 August 2023

327,035

15,173

-

503,495

845,703

Included within the net book value of land and buildings above is £319,842 (2023 - £327,035) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

230,588

277,315

7

Debtors

2024
£

2023
£

Trade debtors

480,501

564,399

Prepayments

60,827

46,012

Other debtors

44,695

614,083

586,023

1,224,494

 

Clamcleats Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

194,304

219,229

Taxation and social security

49,434

57,284

Accruals and deferred income

384,929

662,624

Other creditors

157,225

(4,067)

Corporation tax

-

62,448

Directors Loan Account

241

-

786,133

997,518

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 of £1 each

1,000

1,000

1,000

1,000

       

10

Related party transactions

Injection Moulding and Tooling Services SA (IMATS), a Costa Rican Company in which Mrs S L Walker and Mr J R Emery have an interest.

During the year Clamcleats Ltd provided goods to the value of £207,117 (2023 £208,232) to IMATS.
Included within debtors is an amount of £nil (2023 £112,499) due from IMATS.
Included within trade debtors is an amount of £36,503 (2023 £52,200) due from IMATS.