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Company Registration No. 07008293 (England and Wales)
Clifford Baines International Limited Unaudited accounts for the year ended 30 September 2024
Clifford Baines International Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Clifford Baines International Limited Company Information for the year ended 30 September 2024
Directors
Andrew Loram Hannah Loram
Company Number
07008293 (England and Wales)
Registered Office
Curtis House 34, Third Avenue Hove BN3 2PD United Kingdom
Accountants
Collective Concepts Accounting Ltd
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Clifford Baines International Limited Statement of financial position as at 30 September 2024
2024
2023
Notes
£
£
Fixed assets
Intangible assets
4
117,335
104,203
Tangible assets
5
9,346
4,381
Investments
6
1,760
2,891
128,441
111,475
Current assets
Debtors
7
193,677
235,853
Cash at bank and in hand
484,973
543,097
678,650
778,950
Creditors: amounts falling due within one year
8
(2,959)
(3,811)
Net current assets
675,691
775,139
Total assets less current liabilities
804,132
886,614
Provisions for liabilities
Deferred tax
-
(833)
Net assets
804,132
885,781
Capital and reserves
Called up share capital
100
100
Fair value reserve
15,382
-
Profit and loss account
788,650
885,681
Shareholders' funds
804,132
885,781
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2025 and were signed on its behalf by
Andrew Loram Director Company Registration No. 07008293
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Clifford Baines International Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Clifford Baines International Limited is a private company, limited by shares, registered in England and Wales, registration number 07008293. The registered office is Curtis House, 34, Third Avenue, Hove, BN3 2PD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance
Fixtures & fittings
15% Reducing balance
Computer equipment
5 Years Straight Line
Intangible fixed assets - Digital Assets
The Company holds Digital Assets equal to the amount due to holders of Digital Securities solely for the purposes of meeting its obligations under the Digital Securities. Digital Assets are priced on a daily basis based on the amount of the Digital Assets held using the relevant Quoted Price, and is considered to be the fair value of the Digital Assets. Digital Assets are included at cost less accumulated amortisation. Subsequent measurement is carried out using the revaluation model.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Clifford Baines International Limited Notes to the Accounts for the year ended 30 September 2024
4
Intangible fixed assets
Other
£
Cost
At 1 October 2023
104,203
Additions
4,639
Disposals
(1)
Revaluations
8,494
At 30 September 2024
117,335
Amortisation
At 1 October 2023
-
At 30 September 2024
-
Net book value
At 30 September 2024
117,335
At 30 September 2023
104,203
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
16,897
-
-
16,897
Additions
-
5,334
1,962
7,296
At 30 September 2024
16,897
5,334
1,962
24,193
Depreciation
At 1 October 2023
12,516
-
-
12,516
Charge for the year
1,596
491
244
2,331
At 30 September 2024
14,112
491
244
14,847
Net book value
At 30 September 2024
2,785
4,843
1,718
9,346
At 30 September 2023
4,381
-
-
4,381
6
Investments
Other investments
£
Valuation at 1 October 2023
2,891
Fair value adjustments
(1,131)
Valuation at 30 September 2024
1,760
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Clifford Baines International Limited Notes to the Accounts for the year ended 30 September 2024
7
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
799
808
Accrued income and prepayments
1,851
153
Other debtors
191,027
234,892
193,677
235,853
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,625
3,704
Taxes and social security
107
107
Other creditors
227
-
2,959
3,811
9
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Andrew Loram
10,002
58,047
58,049
10,000
Hannah Loram
9,688
51,117
51,480
9,325
19,690
109,164
109,529
19,325
At the year end the company was due £19,325 (2023: £19,680) from the two Directors. These are interest free loans and no repayment terms have been agreed.
10
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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