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Clutch and Service Centre Limited |
Registered Number:05730013 |
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2020
Clutch and Service Centre Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Clutch and Service Centre Limited
Statement of Financial Position
2019
2020
Property, plant and equipment |
38,228
31,472
3
38,228
31,472
1,000
3,120
4
Trade and other receivables |
9,225
8,747
5
15,460
Cash and cash equivalents |
10,020
21,887
25,685
Trade and other payables: amounts falling due within one |
year |
(26,908)
(22,463)
6
(1,223)
(576)
Net current liabilities
Total assets less current liabilities |
37,652
30,249
Trade and other payables: amounts falling due after more |
than one year |
-
(2,906)
7
(1,987)
(359)
Provisions for liabilities |
32,759
Net assets
29,890
1
1
32,758
29,889
32,759
29,890
Shareholders' funds
For the year ended 31 March 2020 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 of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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4
For the year ended 31 March 2020
Clutch and Service Centre Limited
Statement of Financial Position Continued
Mr Martin Lee Wilkins Director |
These financial statements were approved and authorised for issue by the Board on 16 December 2020 and were signed by: |
The notes form part of these financial statements |
2 of 5
5
For the year ended 31 March 2020
Clutch and Service Centre Limited
Notes to the Financial Statements
Statutory Information
Clutch and Service Centre Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 05730013. |
Unit 21
Meadow Mill Industrial Estate, Dixon Street
Kidderminster
England
DY10 1HH
The presentation currency is £ sterling. |
This is the currency of the primary economic market in which the entity operates (its functional currency). All amounts |
in these financial statements have been rounded to the nearest pound unless otherwise stated. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as |
modified by the revaluation of certain assets. |
Goodwill
Goodwill was amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Property Improvements
Plant and Machinery
Computer Equipment
Motor Vehicles
Furniture and Fittings
Inventories
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs and purchases, costs of conversion and other costs incurred in bringing stock to its present location and condition.Cost is calculated using the first in first out method. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Deferred tax
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. 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. |
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6
For the year ended 31 March 2020
Clutch and Service Centre Limited
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
2. Intangible fixed assets |
Goodwill
15,000
15,000
15,000
15,000
-
-
3. Property, plant and equipment |
91,064
504
2,500
56,868
21,645
9,547
18,041
-
-
-
18,041
-
9,547
56,868
2,500
504
109,105
39,686
Provision for depreciation and impairment |
59,592
298
1,710
32,531
16,043
9,010
Charge for year
11,285
102
198
4,940
5,911
134
70,877
400
1,908
37,471
21,954
9,144
403
17,732
19,397
592
104
38,228
537
5,602
24,337
790
206
31,472
2019
2020
3,120
1,000
4 of 5
7
For the year ended 31 March 2020
Clutch and Service Centre Limited
Notes to the Financial Statements Continued
5. Trade and other receivables |
2019
2020
5,255
6,694
3,492
2,531
9,225
8,747
6. Trade and other payables: amounts falling due within one year |
2019
2020
9,002
6,459
Taxation and social security |
8,133
18,603
5,328
1,846
22,463
26,908
7. Trade and other payables: amounts falling due after more than one year |
2019
2020
2,906
-
8. Average number of persons employed |
During the year the average number of employees was 3 (2019 : 2)
5 of 5