CLF Manufacturing Limited - Period Ending 2021-04-30

CLF Manufacturing Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

CLF Manufacturing Limited

Company Information

Directors

R G Cairns R J Lyon D J George

Company secretary

R J Lyon

Registered office

Orchard House Heath Road Warboys Huntingdon Cambridgeshire PE28 2UW

Bankers

Barclays Bank Plc Huntingdon Cambridge PE29 3AE

Accountants

Lambert Chapman LLP Chartered Accountants 3 Warners Mill Silks Way Braintree Essex CM7 3GB

CLF Manufacturing Limited

(Registration number: 01584424)
Balance Sheet as at 30 April 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	77,043	84,612
Cash at bank and in hand		11,174	8,929
		88,217	93,541
Creditors: Amounts falling due within one year	5	(313,680)	(348,228)
Net liabilities		(225,463)	(254,687)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(225,563)	(254,787)
Total equity		(225,463)	(254,687)

For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 September 2021 and signed on its behalf by:
 

R J Lyon
Company secretary and director

CLF Manufacturing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: Orchard House, Heath Road, Warboys, Huntingdon, Cambridgeshire, PE28 2UW.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Going concern

The financial statements have been prepared on a going concern basis, the validity of which depends upon future financing requirements and the availability of sufficient cash resources to meet those requirements. The availability of sufficient cash resources is dependent upon the continued support of related companies.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income from property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Revenue is recognised on a straight line basis over the accounting year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from tenants in relation to rent received in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

CLF Manufacturing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Share capital

Ordinary shares are classified as equity.

3	Staff numbers

The average number of persons employed by the company during the year, was 3 (2020- 3).

4

Debtors

	2021 £	2020 £
Amounts owed by group undertakings	72,946	80,946
Prepayments and accrued income	4,097	3,666
Total current trade and other debtors	77,043	84,612

Whilst the amounts owed by group undertakings are payable on demand, it is unlikely that they will be received within one year.

5

Creditors

Creditors: amounts falling due within one year

	Note	2021  £	2020  £
Due within one year
Amounts owed to group undertakings		299,856	335,184
Other creditors		6,750	6,750
Corporation tax		1,061	1,139
Accruals and deferred income		6,013	5,155
		313,680	348,228

Whilst amounts owed to group undertakings are payable on demand, it is unlikely that they will be repaid within one year.

CLF Manufacturing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £191,250 (2020 - £206,250). The financial commitments are in respect of operating leases.

7	Related party transactions

Summary of transactions with other related parties

Group companies
 

 

Loans to related parties

2021	Other related parties £	Total £
At start of period	80,946	80,946
Impairment	(8,000)	(8,000)
At end of period	72,946	72,946

2020	Other related parties £	Total £
At start of period	89,946	89,946
Impairment	(9,000)	(9,000)
At end of period	80,946	80,946

Loans from related parties

2021	Other related parties £	Total £
At start of period	335,184	335,184
Advanced	16,795	16,795
Repaid	(19,423)	(19,423)
Impairment	(32,700)	(32,700)
At end of period	299,856	299,856

2020	Other related parties £	Total £
At start of period	378,417	378,417
Advanced	16,324	16,324
Repaid	(23,057)	(23,057)
Impairment	(36,500)	(36,500)
At end of period	335,184	335,184

CLF Manufacturing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2021

8	Parent and ultimate parent undertaking

The company's immediate parent is CLF Packaging Limited, incorporated in England.

 The ultimate parent is CLF Limited, incorporated in England.