R C Claringbould & Sons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05395426 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

R C CLARINGBOULD & SONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Claringbould

J M Claringbould

Mrs L J Claringbould

J G Claringbould

SECRETARY:

Mrs L J Claringbould

REGISTERED OFFICE:

7 Millfield

St Margarets At Cliffe

DOVER

Kent

CT15 6JL

REGISTERED NUMBER:

05395426 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

FIXED ASSETS

Tangible assets

4

158,749

156,645

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

5

300,403

568,278

Cash at bank

739,807

240,375

1,050,210

818,653

CREDITORS

Amounts falling due within one year

6

143,424

63,559

NET CURRENT ASSETS

906,786

755,094

TOTAL ASSETS LESS CURRENT LIABILITIES

1,065,535

911,739

PROVISIONS FOR LIABILITIES

7

30,162

29,763

NET ASSETS

1,035,373

881,976

CAPITAL AND RESERVES

Called up share capital

8

2

2

Capital redemption reserve

1

1

Retained earnings

1,035,370

881,973

SHAREHOLDERS' FUNDS

1,035,373

881,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.

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 20 December 2021 and were signed on its behalf by:

N Claringbould - Director

1.	STATUTORY INFORMATION

R C Claringbould & Sons 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of the financial statements requires the directors to make estimates and assumptions that affect the amounts reported in the financial statements. The directors believe that the critical accounting policies where judgement or estimates are necessarily applied are summarised below.

Amounts receivable under contracts

In calculating amounts receivable under contracts, the directors have reviewed the costs and completion stages of contracts at the year end in order to arrive at a figure at sales value. The directors have reviewed these calculations and concluded that they are appropriate.

Turnover

Turnover represents net invoiced sales of services and goods, excluding value added tax, adjusted for amounts receivable under contracts.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs is recognised in income in the period in which it becomes receivable.

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

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.

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 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2020

271,905

132,065

403,970

Additions

48,450

-

48,450

Disposals

-

(24,250

)

(24,250

)

At 31 March 2021

320,355

107,815

428,170

DEPRECIATION

At 1 April 2020

168,671

78,654

247,325

Charge for year

22,763

9,942

32,705

Eliminated on disposal

-

(10,609

)

(10,609

)

At 31 March 2021

191,434

77,987

269,421

NET BOOK VALUE

At 31 March 2021

128,921

29,828

158,749

At 31 March 2020

103,234

53,411

156,645

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

71

48,070

Amounts receivable under

contracts

292,000

520,000

Other debtors

8,332

208

300,403

568,278

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

50,000

-

Trade creditors

31,724

17,381

Corporation tax

35,582

13,961

Social security and other taxes

4,325

11,276

Other creditors

3,026

3,558

Directors' current accounts

18,767

17,383

143,424

63,559

7.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

30,162

29,763

Deferred

tax

£

Balance at 1 April 2020

29,763

Accelerated capital allowances

399

Balance at 31 March 2021

30,162

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

15

Ordinary A

10p

2

2

9.	RELATED PARTY DISCLOSURES

10.

COVID-19

The COVID-19 pandemic affected the company's level of trading in the early months of the year and the company took advantage of the Coronavirus Job Retention Scheme and the Bounce Back Loan scheme, however, by the end of the year, the impact had lessened. The Bounce Back Loan of £50,000 was repaid, in full, in April 2021.

11.	GOVERNMENT GRANTS