Claremont Finesse Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09033743 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2017 to 30 June 2018

for

Claremont Finesse Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Grimshaw

L Grimshaw

I Grimshaw

REGISTERED OFFICE:

1a High Street

Cobham

Surrey

KT11 3DH

REGISTERED NUMBER:

09033743 (England and Wales)

ACCOUNTANTS:

Ampersand Partnership Limited

Salisbury House

20 Queen's Road

Weybridge

Surrey

KT13 9XE

FIXED ASSETS

Tangible assets

4

19,713

9,103

CURRENT ASSETS

Stocks

-

13,283

Debtors

688,063

610,856

Cash at bank and in hand

128,003

66,041

816,066

690,180

CREDITORS

Amounts falling due within one year

587,780

539,052

NET CURRENT ASSETS

228,286

151,128

TOTAL ASSETS LESS CURRENT LIABILITIES

247,999

160,231

CREDITORS

Amounts falling due after more than one year

3,624

-

NET ASSETS

244,375

160,231

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

244,371

160,227

244,375

160,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 27 March 2019 and were signed on its behalf by:

T Grimshaw - Director

1.	STATUTORY INFORMATION

Claremont Finesse 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Profit on construction projects is taken as the work is carried out if the final outcome can be

assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the

proportion of the work carried out at the year end, by recording turnover and related costs as

contract activity progresses. Turnover is calculated as that proportion of total contract value which

costs incurred to date bear to total expected costs for that contract. Revenues derived from

variations in contracts are recognised only when they have been accepted by the customer. Full

provision is made for losses on all contracts in the year which they are first foreseen.

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

-

20% on cost

Stocks

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

Taxation for the period 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 period 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

9,703

Additions

19,299

At 30 June 2018

29,002

DEPRECIATION

At 1 April 2017

600

Charge for period

8,689

At 30 June 2018

9,289

NET BOOK VALUE

At 30 June 2018

19,713

At 31 March 2017

9,103

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

7,490

At 30 June 2018

7,490

DEPRECIATION

Charge for period

2,341

At 30 June 2018

2,341

NET BOOK VALUE

At 30 June 2018

5,149

5.	RELATED PARTY DISCLOSURES

During the period, total dividends of £79,150 were paid to the directors .

Finesse Homes Surrey LLP - an entity under common control

During the period Finesse Homes Surrey LLP levied management charges of £nil (2017: £5,184) on

the company. At the year end £62,726 (2017: £61,525) was owed to Claremont Finesse Limited. This

outstanding sum is interest free and has no fixed repayment date or repayment schedule.

L Grimshaw - a director

At the year end £44,767 (2017: £81,431) was owed to L Grimshaw. The loan is interest free and has

no fixed repayment date or repayment schedule.

T Grimshaw - a director

During the period the company made sales of £nil (2017: £669,971) to T Grimshaw. At the year end

£152,089 (2017: £177,644) was owed to T Grimshaw. The loan is interest free and has no fixed

repayment date or repayment schedule.