Clarkco Limited - Accounts to registrar (filleted) - small 18.2

Clarkco Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 01491001 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

CLARKCO LIMITED

CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLARKCO LIMITED

COMPANY INFORMATION
for the year ended 30 September 2018







DIRECTORS: Mr D W Clark
Ms Y A Clark





SECRETARY: Ms Y A Clark





REGISTERED OFFICE: 3 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW





REGISTERED NUMBER: 01491001 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

BALANCE SHEET
30 September 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,105,197 3,732,218

CURRENT ASSETS
Stocks 56,945 38,420
Debtors 5 109,014 151,132
Cash at bank 48,882 -
214,841 189,552
CREDITORS
Amounts falling due within one year 6 602,571 808,162
NET CURRENT LIABILITIES (387,730 ) (618,610 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,717,467

3,113,608

CREDITORS
Amounts falling due after more than one
year

7

486,966

617,249
NET ASSETS 3,230,501 2,496,359

CAPITAL AND RESERVES
Called up share capital 490 490
Revaluation reserve 9 2,932,768 2,592,815
Capital redemption reserve 510 510
Retained earnings 296,733 (97,456 )
SHAREHOLDERS' FUNDS 3,230,501 2,496,359

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

BALANCE SHEET - continued
30 September 2018


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.

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 15 May 2019 and were signed on its
behalf by:





Mr D W Clark - Director


CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2018


1. STATUTORY INFORMATION

Clarkco 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Depreciation on freehold buildings has not been provided. The Accounts regulations drawn up under
Companies Act 2006 require that provision be made for depreciation of fixed assets having a finite life.
However, the directors are of the opinion that the residual value at the end of the estimated life of the
freehold building is not likely to be materially different from the last formal revaluation. This is because
the company's policy is to maintain the freehold building in such condition that its value is not
diminished by the passage of time and the relevant expenditure is charged to profit before tax in the
period in which it is incurred. Therefore any element of depreciation is considered to be immaterial and
no provision is made.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Taxation
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 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.

CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2018


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 October 2017 3,610,928 562,704 45,852 25,552 4,245,036
Additions 43,368 99,003 62,398 - 204,769
Disposals (119,249 ) - (12,600 ) - (131,849 )
Revaluations 339,953 - - - 339,953
At 30 September 2018 3,875,000 661,707 95,650 25,552 4,657,909
DEPRECIATION
At 1 October 2017 - 447,876 41,049 23,893 512,818
Charge for year - 32,074 16,425 845 49,344
Eliminated on disposal - - (9,450 ) - (9,450 )
At 30 September 2018 - 479,950 48,024 24,738 552,712
NET BOOK VALUE
At 30 September 2018 3,875,000 181,757 47,626 814 4,105,197
At 30 September 2017 3,610,928 114,828 4,803 1,659 3,732,218

CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2018


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2018 is represented by:

Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Valuation in 2002 1,641,483 - - - 1,641,483
Valuation in 2004 (500,536 ) - - - (500,536 )
Valuation in 2006 550,004 - - - 550,004
Valuation in 2007 (720,432 ) - - - (720,432 )
Valuation in 2008 407,650 - - - 407,650
Valuation in 2009 (84,398 ) - - - (84,398 )
Valuation in 2010 49,087 - - - 49,087
Valuation in 2011 168,992 - - - 168,992
Valuation in 2013 1,080,965 - - - 1,080,965
Valuation in 2018 339,953 - - - 339,953
Cost 942,232 661,707 95,650 25,552 1,725,141
3,875,000 661,707 95,650 25,552 4,657,909

If freehold land and buildings had not been revalued they would have been included at the following
historical cost:

2018 2017
£    £   
Cost 707,185 707,185
Aggregate depreciation 85,412 85,412

Freehold land and buildings were valued on an open market basis on 19 November 2018 by Savills .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 October 2017 77,000 12,600 89,600
Additions - 35,103 35,103
Disposals - (12,600 ) (12,600 )
At 30 September 2018 77,000 35,103 112,103
DEPRECIATION
At 1 October 2017 19,750 9,450 29,200
Charge for year 8,587 8,776 17,363
Eliminated on disposal - (9,450 ) (9,450 )
At 30 September 2018 28,337 8,776 37,113
NET BOOK VALUE
At 30 September 2018 48,663 26,327 74,990
At 30 September 2017 57,250 3,150 60,400

CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2018


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 20,263 11,932
Amounts recoverable on contract 1,040 1,040
Other debtors 87,711 138,160
109,014 151,132

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 61,188 119,258
Hire purchase contracts 26,891 22,251
Trade creditors 46,842 23,798
Taxation and social security 37,885 780
Other creditors 429,765 642,075
602,571 808,162

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans 462,395 597,883
Hire purchase contracts 24,571 19,366
486,966 617,249

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 217,644 322,796

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdraft - 50,486
Bank loans 523,583 666,655
523,583 717,141

The bank overdraft and commercial mortgage are secured by way of a legal charge over the personal
property of the directors, a personal guarantee from the directors limited to £100,000, a standard form
bank debenture and a legal charge over the farm.

CLARKCO LIMITED (REGISTERED NUMBER: 01491001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2018


9. RESERVES
Revaluation
reserve
£   
At 1 October 2017 2,592,815
Revaluation reserve surplus 339,953

At 30 September 2018 2,932,768

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D W Clark.