REGISTERED NUMBER: 05775621 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

The Clever Baggers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V Lacey-Johnson

Mrs S L Lacey-Johnson

D Davies

Mrs E Smith

REGISTERED OFFICE:

5 Four Crosses Business Park

Llanymynech

Powys

SY22 6ST

REGISTERED NUMBER:

05775621 (England and Wales)

ACCOUNTANTS:

Morgan Griffiths LLP

Chartered Accountants

Cross Chambers

9 High Street

Newtown

Powys

SY16 2NY

FIXED ASSETS

Intangible assets

5

379

1,308

Tangible assets

6

353,180

366,992

Investment property

7

277,000

195,860

630,559

564,160

CURRENT ASSETS

Stocks

284,175

279,940

Debtors

8

172,485

212,782

Cash at bank and in hand

7,529

31,489

464,189

524,211

CREDITORS

Amounts falling due within one year

9

411,755

319,909

NET CURRENT ASSETS

52,434

204,302

TOTAL ASSETS LESS CURRENT LIABILITIES

682,993

768,462

CREDITORS

Amounts falling due after more than one year

10

(246,557

)

(201,193

)

PROVISIONS FOR LIABILITIES

(69,818

)

(89,664

)

NET ASSETS

366,618

477,605

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

12

58,815

-

Retained earnings

307,703

477,505

SHAREHOLDERS' FUNDS

366,618

477,605

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 20 August 2025 and were signed on its behalf by:

D Davies - Director

1.	STATUTORY INFORMATION

The Clever Baggers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 a business in 2007, has been amortised over 5 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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost and 10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

165,470

3,715

169,185

AMORTISATION

At 1 January 2024

165,470

2,407

167,877

Charge for year

-

929

929

At 31 December 2024

165,470

3,336

168,806

NET BOOK VALUE

At 31 December 2024

-

379

379

At 31 December 2023

-

1,308

1,308

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,291,834

Additions

162,632

Disposals

(127,253

)

Reclassification/transfer

(3,670

)

At 31 December 2024

1,323,543

DEPRECIATION

At 1 January 2024

924,842

Charge for year

146,523

Eliminated on disposal

(100,635

)

Reclassification/transfer

(367

)

At 31 December 2024

970,363

NET BOOK VALUE

At 31 December 2024

353,180

At 31 December 2023

366,992

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

195,860

Additions

5,065

Revaluations

72,772

Reclassification/transfer

3,303

At 31 December 2024

277,000

NET BOOK VALUE

At 31 December 2024

277,000

At 31 December 2023

195,860

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

72,772

Cost

204,228

277,000

The freehold property was valued at the year end by the directors. Deferred tax relating to the potential capital gains tax liability on the revalued asset amounts to £13,957.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

7,022

62,908

Other debtors

165,463

149,874

172,485

212,782

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

24,500

24,500

Hire purchase contracts

98,886

132,891

Trade creditors

193,457

78,548

Taxation and social security

64,964

50,796

Other creditors

29,948

33,174

411,755

319,909

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

40,343

65,030

Hire purchase contracts

206,214

136,163

246,557

201,193

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

64,843

89,530

Hire purchase contracts

305,100

269,054

369,943

358,584

There is a legal charge over the investment property dated the 30th September 2015 in favour of National Westminster Bank PLC.

12.

RESERVES

Fair

value

reserve

£

Revaluation in year

58,815

At 31 December 2024

58,815

13.	OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £5,260 (2023 £8,420).

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

V Lacey-Johnson and Mrs S L Lacey-Johnson

Balance outstanding at start of year

79,430

77,135

Amounts advanced

90,691

110,295

Amounts repaid

(90,000

)

(108,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

80,121

79,430