REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
FOR |
|
CLYDESDALE LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
FOR |
|
CLYDESDALE LIMITED |
CLYDESDALE LIMITED (REGISTERED NUMBER: 01487710) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
CLYDESDALE LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Argent House |
5 Goldington Road |
Bedford |
Bedfordshire |
MK40 3JY |
CLYDESDALE LIMITED (REGISTERED NUMBER: 01487710) |
|
BALANCE SHEET |
31 DECEMBER 2019 |
|
31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Capital redemption reserve |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his 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. |
CLYDESDALE LIMITED (REGISTERED NUMBER: 01487710) |
|
BALANCE SHEET - continued |
31 DECEMBER 2019 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
were signed by: |
|
|
|
|
|
|
|
CLYDESDALE LIMITED (REGISTERED NUMBER: 01487710) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
1. | STATUTORY INFORMATION |
|
Clydesdale Limited is a
|
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 |
|
|
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 |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
|
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Motor vehicles | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete |
and slow moving items. |
|
Financial instruments |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administrative expenses. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
|
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. |
CLYDESDALE LIMITED (REGISTERED NUMBER: 01487710) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
2. | ACCOUNTING POLICIES - continued |
|
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit or loss. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
|
|
|
Additions |
|
|
|
Disposals |
|
( |
) | ( |
) |
At 31 December 2019 |
|
|
|
DEPRECIATION |
At 1 January 2019 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
( |
) | ( |
) |
At 31 December 2019 |
|
|
|
NET BOOK VALUE |
At 31 December 2019 |
|
|
|
At 31 December 2018 |
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
|
|
Other debtors | - | 4,000 |
S455 corporation tax recoverable |
|
|
Directors' current accounts | - | 325,339 |
Deferred tax asset |
Depreciation in excess of capital
allowances |
|
|
Prepayments and other debtors |
|
|
|
|
|
The company has included the deferred tax asset arising from interaction of capital allowances with |
fixed assets. The directors are of the opinion that suitable profits will arise in the future against which |
this asset can be recovered. |
CLYDESDALE LIMITED (REGISTERED NUMBER: 01487710) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
VAT |
|
|
Sample Holdings Limited |
|
|
Accrued expenses |
|
|
|
|
|
7. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.12.19 | 31.12.18 |
£ | £ |
Bank overdraft |
|
|
|
Bank overdrafts are secured by the bank accounts and fixed and floating assets held by the company. |
|
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31 December 2019 |
and 31 December 2018: |
|
31.12.19 | 31.12.18 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
The above loan is unsecured, repayable on demand and interest is payable to the company at the |
official HMRC beneficial loan interest rates. |
CLYDESDALE LIMITED (REGISTERED NUMBER: 01487710) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
9. | POST BALANCE SHEET EVENTS |
|
It is uncertain as to what impact the Coronavirus (Covid-19) pandemic, announced by the World Health |
Organisation (WHO) as global on 11 March 2020, will have on the longer term future of the company. |
|
Since the year end the pandemic has led to delays in sales which has had a short term effect on cash |
flow together with one potential bad debt. |
|
Coronavirus Job Retention Scheme government grants of £73,702 have been received to 30th August |
2020 in respect of the majority of employees who were furloughed as a result of being unable to |
perform their usual work for the company. Some furloughed employees were able to safely return to |
work from July 2020 with a few remaining on flexible furlough albeit two staff have been made |
redundant. |
|
All liabilities to creditors were settled and no additional encumbrance was placed on the company. |