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Registration number: 00766793

Clark & Partners Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Clark & Partners Limited

(Registration number: 00766793)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

244,562

220,254

Current assets

 

Stocks

207,448

277,500

Debtors

5

362,023

289,975

Cash at bank and in hand

 

493,026

638,054

 

1,062,497

1,205,529

Creditors: Amounts falling due within one year

6

(618,144)

(779,555)

Net current assets

 

444,353

425,974

Total assets less current liabilities

 

688,915

646,228

Creditors: Amounts falling due after more than one year

6

(10,000)

(25,027)

Net assets

 

678,915

621,201

Capital and reserves

 

Called up share capital

8

91

91

Share premium reserve

7,995

7,995

Capital redemption reserve

14

14

Retained earnings

670,815

613,101

Shareholders' funds

 

678,915

621,201

 

Clark & Partners Limited

(Registration number: 00766793)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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:
 


Mr P J Bennett
Director

   
 

Clark & Partners Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
27a Orgreave Drive
Sheffield
South Yorkshire
S13 9NR

Registration number: 00766793

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts shown in these financial statements have been rounded to the nearest pound.

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 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.

Turnover in relation to service contracts is recognised over the life of the contract on a contract by contract basis.

Tax

The current 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.

 

Clark & Partners Limited

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

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

Improvements to property

2% and 10% on cost

Furniture, fittings & equipment

10% on reducing balance

Motor vehicles

25% on reducing balance

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 less a 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 at the transaction price.

 

Clark & Partners Limited

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

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined benefit pension obligation

Contributions were made in the previous year to a defined benefit pension scheme relating to ex-employees. As the assets and liabilities of this scheme are held separately from the company, the contribution was expensed to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 39 (2023 - 40).

 

Clark & Partners Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Improvements to property £

Total
£

Cost or valuation

At 1 January 2024

92,135

382,449

69,134

543,718

Additions

2,420

87,790

302

90,512

Disposals

-

(55,090)

-

(55,090)

At 31 December 2024

94,555

415,149

69,436

579,140

Depreciation

At 1 January 2024

39,026

278,576

5,862

323,464

Charge for the year

5,472

37,689

6,936

50,097

Eliminated on disposal

-

(38,983)

-

(38,983)

At 31 December 2024

44,498

277,282

12,798

334,578

Carrying amount

At 31 December 2024

50,057

137,867

56,638

244,562

At 31 December 2023

53,109

103,873

63,272

220,254

5

Debtors

2024
£

2023
£

Trade debtors

284,361

204,780

Prepayments

40,646

37,143

Other debtors

37,016

48,052

 

362,023

289,975

 

Clark & Partners Limited

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

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

13,964

22,888

Trade payables

 

202,623

327,275

Social security and other taxes

 

22,115

21,009

Other payables

 

379,442

408,383

 

618,144

779,555

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

10,000

25,027

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

3,964

12,888

13,964

22,888

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

10,000

20,000

Hire purchase contracts

-

5,027

10,000

25,027

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.17 each

543

91

543

91