Company Registration No. 00496745 (England and Wales)
CLEE AND WEBB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
CLEE AND WEBB LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
CLEE AND WEBB LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Non-current assets
Investments
5
209,863
209,863
Current assets
Cash and cash equivalents
187
250
Current liabilities
6
(9,640)
(9,641)
Net current liabilities
(9,453)
(9,391)
Total assets less current liabilities
200,410
200,472
Equity
Called up share capital
100
100
Retained earnings
200,310
200,372
Total equity
200,410
200,472
As permitted by s444(5A) of the Companies Act 2006 the directors of the company have not delivered to the Registrar a copy of the income statement within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime
and in accordance with the provisions of FRS 102 section 1A for small entities.
The financial statements were approved by the board of directors and authorised for issue on 18 December 2020 and are signed on its behalf by:
Mr. J.R. Webb
Director
Company Registration No. 00496745
CLEE AND WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Company information
Clee and Webb Limited is a
private
company
limited by shares
incorporated in England and Wales with registration number 00496745.
The registered office is
Ramillies House, 2 Ramillies Street, London, W1F 7LN.
2
Compliance with accounting standard
The financial statements have been prepared in accordance with the provisions of FRS102 section 1A for small entities. There were no material departures from that standard.
3
Accounting policies
3.1
Accounting convention
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
3.2
Non-current investments
Interests in subsidiaries
are
measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
3.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade payables
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
CLEE AND WEBB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
3
Accounting policies
(Continued)
- 3 -
3.4
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a
small sized
group. The company has therefore taken advantage of the exemptions provided by section
399
of the Companies Act 2006 not to prepare group accounts.
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2
(2019 - 2).
5
Fixed asset investments
2020
2019
£
£
Investments
209,863
209,863
Movements in non-current investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2019 & 31 March 2020
209,863
Carrying amount
At 31 March 2020
209,863
At 31 March 2019
209,863
6
Current liabilities
2020
2019
£
£
Amounts due to group undertakings
296
296
Other payables
9,344
9,345
9,640
9,641
7
Directors' transactions
The company paid dividends amounting to £100,000 (2019: £100,000) in total to the directors of the company.