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Clovertone Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
D & K Accountancy Services
Solar House
915 High Road
London
N12 8QJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01222317
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,424 7,943
Investments 5 1,250 1,250
7,674 9,193
CURRENT ASSETS
Debtors 6 45,108 39,759
Cash at bank and in hand 14,489 30,148
59,597 69,907
Creditors: Amounts Falling Due Within One Year 7 (75,412 ) (65,472 )
NET CURRENT ASSETS (LIABILITIES) (15,815 ) 4,435
TOTAL ASSETS LESS CURRENT LIABILITIES (8,141 ) 13,628
NET (LIABILITIES)/ASSETS (8,141 ) 13,628
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 13,254 13,254
Profit and Loss Account (21,495 ) 274
SHAREHOLDERS' FUNDS (8,141) 13,628
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Steven Lisamore
Director
08/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Clovertone Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01222317 . The registered office is 9 Canal Walk, off Southgate Road, london, N1 5SA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 240,773 10,586 58,726 310,085
As at 31 March 2025 240,773 10,586 58,726 310,085
Depreciation
As at 1 April 2024 233,795 10,568 57,779 302,142
Provided during the period 1,047 - 472 1,519
As at 31 March 2025 234,842 10,568 58,251 303,661
Net Book Value
As at 31 March 2025 5,931 18 475 6,424
As at 1 April 2024 6,978 18 947 7,943
5. Investments
Listed
£
Cost or Valuation
As at 1 April 2024 1,250
As at 31 March 2025 1,250
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 1,250
As at 1 April 2024 1,250
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 23,776 17,329
Prepayments (Debtors < 1 year) 21,332 22,430
45,108 39,759
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 46,932 37,134
Corporation tax 1,818 2,819
Other taxes and social security 1,490 1,460
VAT 3,043 1,930
Other creditors 16,675 16,675
Accruals and deferred income 5,454 5,454
75,412 65,472
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Revaluation Reserve
£
As at 1 April 2024 13,254
As at 31 March 2025 13,254
Page 5