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Company Registration No. 09020506 (England and Wales)
Clip Joint Ladies Ltd Unaudited accounts for the year ended 30 April 2025
Clip Joint Ladies Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Clip Joint Ladies Ltd Company Information for the year ended 30 April 2025
Director
Daljit Nandhra
Company Number
09020506 (England and Wales)
Registered Office
7 Church Street Wednesfield Wolverhampton West Midlands WV11 1SR England
Accountants
Nellys Accountants Ltd 71 Woodland Avenue Tettenhall Wood Wolverhampton West Midlands WV6 8ND
- 3 -
Clip Joint Ladies Ltd Statement of financial position as at 30 April 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
1,500
3,000
Tangible assets
5
16,179
20,923
17,679
23,923
Current assets
Inventories
600
1,200
Debtors
6
-
8
Cash at bank and in hand
8,830
1,044
9,430
2,252
Creditors: amounts falling due within one year
7
(14,939)
(14,315)
Net current liabilities
(5,509)
(12,063)
Total assets less current liabilities
12,170
11,860
Creditors: amounts falling due after more than one year
8
(533)
(6,933)
Provisions for liabilities
Deferred tax
9
-
(594)
Net assets
11,637
4,333
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
11,537
4,233
Shareholders' funds
11,637
4,333
For the year ending 30 April 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 director acknowledges her 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 and authorised for issue on 2 January 2026 and were signed on its behalf by
Daljit Nandhra Director Company Registration No. 09020506
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Clip Joint Ladies Ltd Notes to the Accounts for the year ended 30 April 2025
1
Statutory information
Clip Joint Ladies Ltd is a private company, limited by shares, registered in England and Wales, registration number 09020506. The registered office is 7 Church Street, Wednesfield, Wolverhampton, West Midlands, WV11 1SR, England.
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.
3
Accounting policies
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.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Presentation currency
The accounts are presented in £ sterling.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Intangible fixed assets
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of 10 years. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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:
Land & buildings
Over 15 years
Fixtures & fittings
Over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
- 5 -
Clip Joint Ladies Ltd Notes to the Accounts for the year ended 30 April 2025
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024
15,000
At 30 April 2025
15,000
Amortisation
At 1 May 2024
12,000
Charge for the year
1,500
At 30 April 2025
13,500
Net book value
At 30 April 2025
1,500
At 30 April 2024
3,000
- 6 -
Clip Joint Ladies Ltd Notes to the Accounts for the year ended 30 April 2025
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 May 2024
24,265
15,644
39,909
At 30 April 2025
24,265
15,644
39,909
Depreciation
At 1 May 2024
6,469
12,517
18,986
Charge for the year
1,617
3,127
4,744
At 30 April 2025
8,086
15,644
23,730
Net book value
At 30 April 2025
16,179
-
16,179
At 30 April 2024
17,796
3,127
20,923
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Other debtors
-
8
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
6,400
6,400
Trade creditors
38
320
Taxes and social security
7,084
7,207
Other creditors
614
-
Loans from directors
425
28
Accruals
378
360
14,939
14,315
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
533
6,933
9
Deferred taxation
2025
2024
£
£
Accelerated capital allowances
-
594
2025
2024
£
£
Provision at start of year
594
1,189
Credited to the profit and loss account
(594)
(595)
Provision at end of year
-
594
- 7 -
Clip Joint Ladies Ltd Notes to the Accounts for the year ended 30 April 2025
10
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Transactions with related parties
The company trades from premises owned by Mr A Nandhra, the director's husband. Rent and service charges of £3,006 (2023 - £3,900) were paid in the year.
12
Average number of employees
During the year the average number of employees was 3 (2024: 4).
- 8 -