Claremont Finesse Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09033743 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

Claremont Finesse Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Grimshaw

I Grimshaw

REGISTERED OFFICE:

1a High Street

Cobham

Surrey

KT11 3DH

REGISTERED NUMBER:

09033743 (England and Wales)

ACCOUNTANTS:

Ampersand Partnership Limited

Chancery House

41a Hanger Hill

Weybridge

Surrey

KT13 9XZ

FIXED ASSETS

Tangible assets

4

67,324

57,179

CURRENT ASSETS

Debtors

2,957,167

2,551,969

Cash at bank and in hand

55,202

292,973

3,012,369

2,844,942

CREDITORS

Amounts falling due within one year

1,925,380

2,005,963

NET CURRENT ASSETS

1,086,989

838,979

TOTAL ASSETS LESS CURRENT LIABILITIES

1,154,313

896,158

CREDITORS

Amounts falling due after more than one year

62,010

53,262

NET ASSETS

1,092,303

842,896

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

1,092,299

842,892

1,092,303

842,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 30 June 2023 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 26 March 2024 and were signed on its behalf by:

I Grimshaw - Director

1.	STATUTORY INFORMATION

Claremont Finesse 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Profit on construction projects is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations in contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year which they are first foreseen.

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.

Plant and machinery etc

-

25% on cost and 20% on cost

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.

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 13 (2022 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2022

158,847

Additions

50,292

Disposals

(48,294

)

At 30 June 2023

160,845

DEPRECIATION

At 1 July 2022

101,668

Charge for year

40,147

Eliminated on disposal

(48,294

)

At 30 June 2023

93,521

NET BOOK VALUE

At 30 June 2023

67,324

At 30 June 2022

57,179

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 July 2022

47,687

Additions

34,627

At 30 June 2023

82,314

DEPRECIATION

At 1 July 2022

21,638

Charge for year

20,536

At 30 June 2023

42,174

NET BOOK VALUE

At 30 June 2023

40,140

At 30 June 2022

26,049

5.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.23

30.6.22

£

£

Hire purchase contracts

48,171

29,989

6.	RELATED PARTY DISCLOSURES

T Grimshaw - a director

During the year the company made sales to T Grimshaw in the sum of £14,167 (2022: £nil), of which £7,529 (2022: £nil) was outstanding at the year end and repaid on normal commercial terms.

At the year end £119,717 (2022: £137) was owed to T Grimshaw. The loan is interest free and has no fixed repayment date or repayment schedule.

I Grimshaw - a director

During the year the company made sales to I Grimshaw in the sum of £20,310 (2022: £56,446), of which £1,833 (2022: £11,698) was outstanding at the year end and repaid on normal commercial terms.

At the year end £433,860 (2022: £3,890) was owed to I Grimshaw. The loan is interest free and has no fixed repayment date or repayment schedule.

Entities under common control

During the year the Company made sales in the sum of £72,445 (2022: £nil). At the year end £101,245 (2022: £650) was owed to the company by entities under common control.

7.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Claremont Finesse Group Limited, a company registered in England and Wales. In the opinion of the directors there is no ultimate controlling party.