S Clarke & Son Funeral Directors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by shares, registered in Northern Ireland. Registered number is NI062277.

The address of its registered office is:
12 Court Square
Newtownards
Co. Down
BT23 3NY

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. The level of rounding is to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/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.

Tax

The tax expense for the period comprises current and deferred 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.

S Clarke & Son Funeral Directors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Tangible 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

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:

Asset class	Depreciation method and rate
Freehold Property	2% Straight Line
Plant & Machinery	20% Straight Line
Fixtures & Fittings	15% Straight Line
Motor Vehicles	25% and 16.67% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

S Clarke & Son Funeral Directors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

S Clarke & Son Funeral Directors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2024 - 39).

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 April 2024	1,322,468	217,749	389,042	751,281
Additions	69,648	4,312	10,480	-
At 31 March 2025	1,392,116	222,061	399,522	751,281
Depreciation
At 1 April 2024	197,070	203,689	337,464	333,502
Charge for the year	27,840	5,328	25,649	73,574
At 31 March 2025	224,910	209,017	363,113	407,076
Carrying amount
At 31 March 2025	1,167,206	13,044	36,409	344,205
At 31 March 2024	1,125,398	14,060	51,578	417,779

	Total £
Cost or valuation
At 1 April 2024	2,680,540
Additions	84,440
At 31 March 2025	2,764,980
Depreciation
At 1 April 2024	1,071,725
Charge for the year	132,391
At 31 March 2025	1,204,116
Carrying amount
At 31 March 2025	1,560,864
At 31 March 2024	1,608,815

Included within the net book value of land and buildings above is £1,167,206 (2024 - £1,125,398) in respect of freehold land and buildings.
 

S Clarke & Son Funeral Directors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Investments

	Investments £	Total £
Current financial assets
Cost or valuation
At 1 April 2024	1,000,000	1,000,000
At 31 March 2025	1,000,000	1,000,000
Impairment
Carrying amount
At 31 March 2025	1,000,000	1,000,000

6

Debtors

Current	2025 £	2024 £
Trade debtors	360,535	293,771
Other debtors	593,025	908,889
	953,560	1,202,660

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	107,807	85,260
Taxation and social security	171,496	120,525
Other creditors	98,587	108
	377,890	205,893

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share of of £1 each	100	100	100	100

S Clarke & Son Funeral Directors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Related party transactions

Included in other debtors is £301,747 (2024: £600,000) which is due from CHJ Property Investments Ltd, a related party due to common directors and shareholders.

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr S J Clarke
	(118,928)	(250,002)	268,690	(100,240)
Mr J Clarke
	10,487	(299,991)	179,143	(110,361)

The above loans are secured, interest free and repayable on demand.