Clifford Springs Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07324248 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2022

for

Clifford Springs Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J K Clifford

R G Clifford

P A Thomas

REGISTERED OFFICE:

Unit 45

Enfield Industrial Estate

Redditch

Worcestershire

B97 6DE

REGISTERED NUMBER:

07324248 (England and Wales)

ACCOUNTANTS:

Derek Young & Co Accountants LLP

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

640,755

644,634

640,755

644,634

CURRENT ASSETS

Stocks

379,500

375,000

Debtors

796,863

629,070

Cash at bank and in hand

1,055,695

932,295

2,232,058

1,936,365

CREDITORS

Amounts falling due within one year

297,920

182,456

NET CURRENT ASSETS

1,934,138

1,753,909

TOTAL ASSETS LESS CURRENT LIABILITIES

2,574,893

2,398,543

PROVISIONS FOR LIABILITIES

114,315

113,583

NET ASSETS

2,460,578

2,284,960

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

2,460,576

2,284,958

SHAREHOLDERS' FUNDS

2,460,578

2,284,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2022 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 and authorised for issue on 15 November 2022 and were signed on its behalf by:

J K Clifford - Director

1.	STATUTORY INFORMATION

Clifford Springs Ltd 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 represents amounts derived from the provision of goods and services falling within the company's ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so derived.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

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.

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.

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 17 (2021 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2021

and 31 August 2022

150,000

AMORTISATION

At 1 September 2021

and 31 August 2022

150,000

NET BOOK VALUE

At 31 August 2022

-

At 31 August 2021

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2021

1,741,037

Additions

174,429

Disposals

(1,178

)

At 31 August 2022

1,914,288

DEPRECIATION

At 1 September 2021

1,096,403

Charge for year

177,694

Eliminated on disposal

(564

)

At 31 August 2022

1,273,533

NET BOOK VALUE

At 31 August 2022

640,755

At 31 August 2021

644,634

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

NIL

ordinary

£1

-

2

2,000

A ordinary

0.1p

2

-

2

2

On 3 August 2022 the 2 ordinary shares of £1 each were subdivided and reclassified into 2000 A ordinary shares of £0.001 each. The newly created A ordinary shares carry the same rights as the previous ordinary shares.

7.	ULTIMATE CONTROLLING PARTY