Commercial Clay Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01653703

Commercial Clay Limited

Filleted Unaudited Financial Statements

31 October 2024

Commercial Clay Limited

Statement of Financial Position

31 October 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	6	76,575	92,075

Current assets

Stocks		88,556	100,773
Debtors	7	126,411	191,152
Cash at bank and in hand		251,156	160,196
		---------	---------
		466,123	452,121

Creditors: amounts falling due within one year	8	182,745	164,540
		---------	---------
Net current assets		283,378	287,581
		---------	---------
Total assets less current liabilities		359,953	379,656

Provisions	10,850	–
	---------	---------
Net assets	349,103	379,656
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	349,101	379,654
	---------	---------
Members' funds	349,103	379,656
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ended 31 October 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 financial statements for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

Commercial Clay Limited

Statement of Financial Position (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 4 September 2025 , and are signed on behalf of the board by:

Mr P T Stokes

Director

Company registration number: 01653703

Commercial Clay Limited

Notes to the Financial Statements

Year ended 31 October 2024

1. Statutory information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sandbach Road, Cobridge, Stoke on Trent, ST6 2DF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

(c) Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

(d) Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Building alterations	-	2.5% reducing balance
Plant and machinery	-	20% reducing balance
Office equipment and heating systems	-	15% reducing balance
Motor vehicles	-	25% reducing balance

(g) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

(h) Stocks

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

(i) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

(j) Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

(k) Defined contribution pension plan

Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2023: 11 ).

5. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2024	2023
	£	£
Remuneration	29,130	28,534
	--------	--------

6. Tangible assets

	Building alterations	Plant and machinery	Office equipment and heating systems	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 November 2023	26,704	139,582	3,372	75,698	245,356
Additions	–	1,512	234	–	1,746
	--------	---------	-------	--------	---------
At 31 October 2024	26,704	141,094	3,606	75,698	247,102
	--------	---------	-------	--------	---------
Depreciation
At 1 November 2023	7,416	111,470	1,450	32,945	153,281
Charge for the year	483	5,744	329	10,690	17,246
	--------	---------	-------	--------	---------
At 31 October 2024	7,899	117,214	1,779	43,635	170,527
	--------	---------	-------	--------	---------
Carrying amount
At 31 October 2024	18,805	23,880	1,827	32,063	76,575
	--------	---------	-------	--------	---------
At 31 October 2023	19,288	28,112	1,922	42,753	92,075
	--------	---------	-------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	110,281	155,682
Other debtors	16,130	35,470
	---------	---------
	126,411	191,152
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	142,168	119,884
Social security and other taxes	32,795	36,701
Other creditors	7,782	7,955
	---------	---------
	182,745	164,540
	---------	---------

9. Pension commitments

At the year end, the company had a liability of £361 (2023: £799) in relation to its defined contribution pension plan.

10. Related party transactions

Mr P T Stokes and Mrs H Stokes are related parties by virtue of their directorships of and shareholders in the company. During the year, Mr P T Stokes and Mrs H Stokes operated a directors' loan account with the company such that, at the year end, they were owed the combined sum of £2,269 (2023: £2,830). This loan was interest free and repayable on demand. During the year, the company paid equity dividends on Ordinary shares to Mr P T Stokes and Mrs H Stokes in the sum of £65,000 (2023: £35,000). A personal guarantee totalling £20,650 was undertaken by Mr P T Stokes in favour of the company's bankers as security for the indebtedness of the company to the bank. A personal guarantee totalling £30,000 was undertaken by Mr P T Stokes & Mrs H Stokes in favour of the company's bankers as security for the indebtedness of the company to the bank.