Company Registration No. NI629550 (Northern Ireland)
Clifford & Gregg Limited
Unaudited accounts
for the year ended 31 October 2025
Clifford & Gregg Limited
Unaudited accounts
Contents
Clifford & Gregg Limited
Company Information
for the year ended 31 October 2025
Directors
Daryl Clifford
Carrie Clifford
Company Number
NI629550 (Northern Ireland)
Registered Office
11 Croft Road
Dromara
Dromore
County Down
BT25 2AD
Northern Ireland
Clifford & Gregg Limited
Statement of financial position
as at 31 October 2025
Tangible assets
161,121
238,923
Cash at bank and in hand
78,286
252,654
Creditors: amounts falling due within one year
(93,029)
(118,197)
Net current assets
242,999
198,252
Total assets less current liabilities
404,120
437,175
Provisions for liabilities
Deferred tax
(40,283)
(59,733)
Net assets
363,837
377,442
Called up share capital
3
3
Profit and loss account
363,834
377,439
Shareholders' funds
363,837
377,442
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by
Daryl Clifford
Director
Company Registration No. NI629550
Clifford & Gregg Limited
Notes to the Accounts
for the year ended 31 October 2025
Clifford & Gregg Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI629550. The registered office is 11 Croft Road, Dromara, Dromore, County Down, BT25 2AD, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Fixtures & fittings
20% reducing balance
Work in progress is valued at the lower of cost and net realisable value.
Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.
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 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.
Clifford & Gregg Limited
Notes to the Accounts
for the year ended 31 October 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Clifford & Gregg Limited
Notes to the Accounts
for the year ended 31 October 2025
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets.
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.
Derivatives, including forward exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss in finance costs or finance income as appropriate.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for impairment at each reporting date.
Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some of the risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans and overdrafts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
Clifford & Gregg Limited
Notes to the Accounts
for the year ended 31 October 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2024
556,330
59,995
26,197
642,522
Disposals
(120,000)
-
-
(120,000)
At 31 October 2025
436,330
59,995
26,559
522,884
At 1 November 2024
377,525
6,999
19,075
403,599
Charge for the year
14,891
10,599
1,497
26,987
On disposals
(68,823)
-
-
(68,823)
At 31 October 2025
323,593
17,598
20,572
361,763
At 31 October 2025
112,737
42,397
5,987
161,121
At 31 October 2024
178,805
52,996
7,122
238,923
Amounts falling due within one year
Trade debtors
1,347
63,795
6
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
82,096
74,231
Loans from directors
-
29,925
7
Average number of employees
During the year the average number of employees was 1 (2024: 3).