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Company No: 04552140 (England and Wales)

CLAYWORKS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CLAYWORKS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CLAYWORKS LIMITED

BALANCE SHEET

As at 31 December 2024
CLAYWORKS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 668 1,117
Tangible assets 4 684,179 671,218
684,847 672,335
Current assets
Stocks 190,666 125,058
Debtors 5 48,373 110,455
Cash at bank and in hand 1,229,412 1,483,519
1,468,451 1,719,032
Creditors: amounts falling due within one year 6 ( 223,929) ( 405,178)
Net current assets 1,244,522 1,313,854
Total assets less current liabilities 1,929,369 1,986,189
Creditors: amounts falling due after more than one year 7 ( 244,897) ( 262,807)
Provision for liabilities ( 23,438) ( 29,600)
Net assets 1,661,034 1,693,782
Capital and reserves
Called-up share capital 1,263 1,278
Share premium account 107,587 107,587
Capital redemption reserve 679 664
Other reserves ( 498,759 ) ( 444,759 )
Profit and loss account 2,050,264 2,029,012
Total shareholders' funds 1,661,034 1,693,782

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 financial statements of Clayworks Limited (registered number: 04552140) were approved and authorised for issue by the Board of Directors on 30 June 2025. They were signed on its behalf by:

A Weismann
Director
CLAYWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CLAYWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clayworks Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Clayworks Higher Bochym Workshops, Cury Cross Lanes, Helston, TR12 7AZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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.

Taxation

Current 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or subsequently enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or subsequently enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Separately acquired trademarks and licenses are shown at historical cost

Trademarks, licenses (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licenses and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impaired losses.

Trademarks, patents and licences 10 years straight line
Website costs 25 % reducing balance
Tangible fixed 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 is charged so as to write off the costs of assets, other than land and properties under construction over their estimated useful lives.

Land and buildings not depreciated
Leasehold improvements depreciated over the life of the lease
Plant and machinery 25 % reducing balance
Vehicles 4 years straight line
Fixtures and fittings 15 - 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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 stocks 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 27 24

3. Intangible assets

Trademarks, patents
and licences
Website costs Total
£ £ £
Cost
At 01 January 2024 2,263 11,850 14,113
At 31 December 2024 2,263 11,850 14,113
Accumulated amortisation
At 01 January 2024 2,036 10,960 12,996
Charge for the financial year 227 222 449
At 31 December 2024 2,263 11,182 13,445
Net book value
At 31 December 2024 0 668 668
At 31 December 2023 227 890 1,117

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £ £
Cost
At 01 January 2024 513,770 54,853 85,769 48,068 43,203 745,663
Additions 0 15,008 25,977 0 10,288 51,273
Disposals 0 0 ( 1,137) 0 ( 4,482) ( 5,619)
At 31 December 2024 513,770 69,861 110,609 48,068 49,009 791,317
Accumulated depreciation
At 01 January 2024 0 17,239 37,450 6,349 13,407 74,445
Charge for the financial year 0 1,033 16,918 12,017 7,362 37,330
Disposals 0 0 ( 1,119) 0 ( 3,518) ( 4,637)
At 31 December 2024 0 18,272 53,249 18,366 17,251 107,138
Net book value
At 31 December 2024 513,770 51,589 57,360 29,702 31,758 684,179
At 31 December 2023 513,770 37,614 48,319 41,719 29,796 671,218

5. Debtors

2024 2023
£ £
Trade debtors 31,293 90,857
Other debtors 17,080 19,598
48,373 110,455

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,500 8,800
Trade creditors 79,470 82,004
Taxation and social security 79,703 208,543
Obligations under finance leases and hire purchase contracts 10,370 13,487
Other creditors 44,886 92,344
223,929 405,178

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 204,510 214,263
Obligations under finance leases and hire purchase contracts 40,387 48,544
244,897 262,807

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Director loans owed (from)/ to the company (19,773) 3,924

At the end of the year, A Weismann and K Bryce were owed £19,772.73 from the company.