J W Clark Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04620779 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

J W CLARK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J W Clark

REGISTERED OFFICE:

Thistledown Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

REGISTERED NUMBER:

04620779 (England and Wales)

ACCOUNTANTS:

Elsby & Co

Thistledown Barn

Holcot Lane

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,185,845

1,114,875

Investments

6

1

1

1,185,846

1,114,876

CURRENT ASSETS

Stocks

56,385

45,350

Debtors

7

310,509

393,878

Cash at bank and in hand

77,714

118,602

444,608

557,830

CREDITORS

Amounts falling due within one year

8

716,675

692,482

NET CURRENT LIABILITIES

(272,067

)

(134,652

)

TOTAL ASSETS LESS CURRENT LIABILITIES

913,779

980,224

CREDITORS

Amounts falling due after more than one year

9

(675,014

)

(772,714

)

PROVISIONS FOR LIABILITIES

(213,288

)

(188,859

)

NET ASSETS

25,477

18,651

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

25,475

18,649

SHAREHOLDERS' FUNDS

25,477

18,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 and authorised for issue on 26 July 2022 and were signed by:

J W Clark - Director

1.	STATUTORY INFORMATION

J W Clark 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has now been fully amortised.

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.

Improvements to property

-

20% on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at fair value.

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 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.

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.

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 year was 18 (2021 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2021

and 30 April 2022

15,500

AMORTISATION

At 1 May 2021

and 30 April 2022

15,500

NET BOOK VALUE

At 30 April 2022

-

At 30 April 2021

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 May 2021

37,417

637,742

19,500

894,252

1,588,911

Additions

825

313,892

2,142

96,564

413,423

Disposals

-

-

-

(117,191

)

(117,191

)

At 30 April 2022

38,242

951,634

21,642

873,625

1,885,143

DEPRECIATION

At 1 May 2021

33,049

131,387

12,091

297,509

474,036

Charge for year

4,370

90,916

1,659

145,407

242,352

Eliminated on disposal

-

-

-

(17,090

)

(17,090

)

At 30 April 2022

37,419

222,303

13,750

425,826

699,298

NET BOOK VALUE

At 30 April 2022

823

729,331

7,892

447,799

1,185,845

At 30 April 2021

4,368

506,355

7,409

596,743

1,114,875

The net book value of tangible fixed assets includes £ 1,151,330 (2021 - £ 1,076,546 ) in respect of assets held under hire purchase contracts.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2021

and 30 April 2022

1

NET BOOK VALUE

At 30 April 2022

1

At 30 April 2021

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

264,725

280,250

Amounts owed by group undertakings

7,936

7,587

Other debtors

37,848

106,041

310,509

393,878

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

22,560

20,535

Hire purchase contracts

344,332

331,885

Trade creditors

291,366

278,532

Taxation and social security

30,291

53,049

Other creditors

28,126

8,481

716,675

692,482

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

83,198

108,965

Hire purchase contracts

531,815

603,748

Other creditors

60,001

60,001

675,014

772,714

10.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

876,147

935,633

The liabilities are secured on the assets to which they relate.

The director has provided a personal guarantee totalling £50,000.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

2

Ordinary

£1

2

2

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2022 and 30 April 2021:

2022

2021

£

£

J W Clark

Balance outstanding at start of year

55,429

(331

)

Amounts advanced

116,945

74,750

Amounts repaid

(172,593

)

(18,990

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(219

)

55,429

Interest was charged on this balance at a rate of 2.25% (2021 2.25%).