Clements Finance Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06685243 (England and Wales)

Unaudited Financial Statements For The Year Ended 30 September 2019

for

Clements Finance Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M R Clements

REGISTERED OFFICE:

7 Billing Road

Northampton

NORTHAMPTONSHIRE

NN1 5AN

REGISTERED NUMBER:

06685243 (England and Wales)

ACCOUNTANTS:

Harris & Clarke LLP

7 Billing Road

Northampton

NORTHAMPTONSHIRE

NN1 5AN

FIXED ASSETS

Tangible assets

4

43,699

55,438

CURRENT ASSETS

Debtors

5

7,927

40,571

Cash at bank

120,532

43,812

128,459

84,383

CREDITORS

Amounts falling due within one year

6

72,056

69,643

NET CURRENT ASSETS

56,403

14,740

TOTAL ASSETS LESS CURRENT LIABILITIES

100,102

70,178

CREDITORS

Amounts falling due after more than one year

7

45,000

45,000

NET ASSETS

55,102

25,178

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

55,101

25,177

SHAREHOLDERS' FUNDS

55,102

25,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 26 February 2020 and were signed by:

Mr M R Clements - Director

1.	STATUTORY INFORMATION

Clements Finance 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.

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.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

76,774

Additions

2,352

At 30 September 2019

79,126

DEPRECIATION

At 1 October 2018

21,336

Charge for year

14,091

At 30 September 2019

35,427

NET BOOK VALUE

At 30 September 2019

43,699

At 30 September 2018

55,438

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

7,927

40,571

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

13,246

9,491

Other creditors

58,810

60,152

72,056

69,643

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

45,000

45,000