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Unaudited Financial Statements for the Year Ended 31 December 2024

for

Clevelands Wholesale Limited

Clevelands Wholesale Limited (Registered number: 05684802)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Clevelands Wholesale Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R Calcott
Mrs MC Calcott





SECRETARY: Mrs MC Calcott





REGISTERED OFFICE: Unit 5
Woodcock Hill Estate
Harefield Road
Rickmansworth
Hertfordshire
WD3 1PQ





REGISTERED NUMBER: 05684802





ACCOUNTANTS: Peter Upton
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR

Clevelands Wholesale Limited (Registered number: 05684802)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 30,500 50,951
Tangible assets 5 74,501 56,388
105,001 107,339

CURRENT ASSETS
Stocks 945,477 874,948
Debtors 6 264,902 264,773
Cash at bank and in hand 79,630 13,208
1,290,009 1,152,929
CREDITORS
Amounts falling due within one year 7 489,567 474,093
NET CURRENT ASSETS 800,442 678,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

905,443

786,175

CREDITORS
Amounts falling due after more than one year 8 (98,158 ) (63,111 )

PROVISIONS FOR LIABILITIES 10 (17,529 ) (8,457 )
NET ASSETS 789,756 714,607

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 789,754 714,605
SHAREHOLDERS' FUNDS 789,756 714,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by:



R Calcott - Director


Clevelands Wholesale Limited (Registered number: 05684802)

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

1. STATUTORY INFORMATION

Clevelands Wholesale Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business of G Cleveland Wholesalers, is being amortised evenly over its estimated useful life of 20 years.

The addition to goodwill during the year to 31st December 2008 related to the acquisition of Allen Green Wholesale which is being amortised evenly over its estimated useful life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Acquisitions costs are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at their settlement value

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

Clevelands Wholesale Limited (Registered number: 05684802)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Acquisitions
Goodwill costs Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 396,116 12,913 409,029
AMORTISATION
At 1 January 2024 346,675 11,403 358,078
Amortisation for year 19,806 645 20,451
At 31 December 2024 366,481 12,048 378,529
NET BOOK VALUE
At 31 December 2024 29,635 865 30,500
At 31 December 2023 49,441 1,510 50,951

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 38,348 155,181 42,469
Additions - 2,877 -
Disposals - (976 ) -
At 31 December 2024 38,348 157,082 42,469
DEPRECIATION
At 1 January 2024 34,078 120,055 42,469
Charge for year 1,439 11,432 -
Eliminated on disposal - (976 ) -
At 31 December 2024 35,517 130,511 42,469
NET BOOK VALUE
At 31 December 2024 2,831 26,571 -
At 31 December 2023 4,270 35,126 -

Clevelands Wholesale Limited (Registered number: 05684802)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS - continued

Office &
Motor sundry
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 - 120,827 356,825
Additions 31,560 3,652 38,089
Disposals - - (976 )
At 31 December 2024 31,560 124,479 393,938
DEPRECIATION
At 1 January 2024 - 103,835 300,437
Charge for year 1,972 5,133 19,976
Eliminated on disposal - - (976 )
At 31 December 2024 1,972 108,968 319,437
NET BOOK VALUE
At 31 December 2024 29,588 15,511 74,501
At 31 December 2023 - 16,992 56,388

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 162,291 111,135
Other debtors 879 -
Prepayments 101,732 153,638
264,902 264,773

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 9) 42,831 70,959
Trade creditors 161,836 162,843
Tax 27,094 22,285
Social security and other taxes 5,108 4,606
VAT 53,782 35,754
Other creditors 859 18,414
Directors' current accounts 152,094 117,259
Accrued expenses 45,963 41,973
489,567 474,093

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans (see note 9) 98,158 63,111

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 yr 31,934 -

Clevelands Wholesale Limited (Registered number: 05684802)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 42,831 70,959

Amounts falling due between one and two years:
Bank loan 33,112 27,048

Amounts falling due between two and five years:
Bank loans - 2-5 years 33,112 36,063

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 yr 31,934 -

10. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 17,529 8,457

Deferred
tax
£   
Balance at 1 January 2024 8,457
Provided during year 9,072
Balance at 31 December 2024 17,529

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
2 ordinary £1 2 2

12. RELATED PARTY DISCLOSURES

The directors of the company are also the directors of Sandyheath Retail Ltd with ultimate control of both companies. At the year end, within other debtors, £879 [2023 £17,558 other creditors] is the balance with Sandyheath Retail Ltd.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Calcott and MC Calcott.