|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CLINTON ENTERPRISES LIMITED |
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2017 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CLINTON ENTERPRISES LIMITED |
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2017 |
|
|
|
|
|
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31 December 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
CLINTON ENTERPRISES LIMITED |
|
Company Information |
for the year ended 31 December 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Certified Accountants |
The Riding School House |
Bulls Lane |
Wishaw |
Sutton Coldfield |
West Midlands |
B76 9QW |
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
Balance Sheet |
31 December 2017 |
|
31/12/17 | 31/12/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks | 6 |
|
|
Debtors | 7 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
9 |
|
( |
) |
|
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 12 |
|
|
Retained earnings | 13 |
|
|
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. |
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
Balance Sheet - continued |
31 December 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
Notes to the Financial Statements |
for the year ended 31 December 2017 |
|
1. | STATUTORY INFORMATION |
|
Clinton Enterprises Limited is a
|
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 |
|
|
Significant judgements and estimates |
The Directors have identified that in common with many businesses of a similar size and trading in the |
same market sector, that they will be required to continually assess their income recognition policies |
and to also give due consideration to the balance sheet valuations of recoverable amounts. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
|
Tangible fixed assets |
|
Improvements to property | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss |
Account, 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. |
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
Pensions |
The company makes contributions to employees personal plans. Contributions are charged to the |
profit and loss account in the period in which they are paid. |
|
Holiday pay accrual |
The liability is recognised when an employee has provided service in exchange for benefits to be paid |
in the future. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2017 |
|
Additions |
|
At 31 December 2017 |
|
DEPRECIATION |
At 1 January 2017 |
|
Charge for year |
|
At 31 December 2017 |
|
NET BOOK VALUE |
At 31 December 2017 |
|
At 31 December 2016 |
|
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
|
DEPRECIATION |
At 1 January 2017 |
|
Charge for year |
|
At 31 December 2017 |
|
NET BOOK VALUE |
At 31 December 2017 |
|
At 31 December 2016 |
|
|
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
|
|
26,280 |
Disposals |
|
( |
) | (4,259 | ) |
At 31 December 2017 |
|
|
22,021 |
NET BOOK VALUE |
At 31 December 2017 |
|
|
22,021 |
At 31 December 2016 |
|
|
26,280 |
|
The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
|
|
Registered office: within the United Kingdom |
Nature of business:
|
% |
Class of shares: | holding |
|
|
31/12/17 | 31/12/16 |
£ | £ |
Aggregate capital and reserves |
|
|
Profit for the year |
|
|
|
Fixed asset investments comprise £1 cost of investment in a subsidiary company and the remaining |
value being in other unlisted investments. The director does not consider the market value of the |
unlisted investments to be materially different to the cost as stated on the balance sheet. |
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
|
6. | STOCKS |
31/12/17 | 31/12/16 |
£ | £ |
Stocks |
|
|
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/17 | 31/12/16 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/17 | 31/12/16 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31/12/17 | 31/12/16 |
£ | £ |
Hire purchase contracts |
|
|
|
10. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31/12/17 | 31/12/16 |
£ | £ |
Bank overdrafts |
|
|
|
11. | PROVISIONS FOR LIABILITIES |
31/12/17 | 31/12/16 |
£ | £ |
Deferred tax | 22,942 | 22,398 |
|
Deferred |
tax |
£ |
Balance at 1 January 2017 |
|
Charge to Profit and Loss Account during year |
|
Balance at 31 December 2017 |
|
CLINTON ENTERPRISES LIMITED (REGISTERED NUMBER: 03005781) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2017 |
|
11. | PROVISIONS FOR LIABILITIES - continued |
|
Deferred tax provision relates solely to accelerated capital allowances. |
|
12. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/12/17 | 31/12/16 |
value: | £ | £ |
|
Ordinary | £1 | 4 | 4 |
|
13. | RESERVES |
Retained |
earnings |
£ |
|
At 1 January 2017 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 December 2017 |
|
|
14. | OTHER FINANCIAL COMMITMENTS |
|
The company has total operating lease commitments at the balance sheet date on leases expiring |
between two to five years of £57,417. |
|
15. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31 December 2017 |
and 31 December 2016: |
|
31/12/17 | 31/12/16 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) |
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
|
|
During the year, the company charged the director £1,569 ( 2016 : £270 interest) for the period in |
which his directors loan was overdrawn during the year. This amount was calculated on a daily basis |
by reference to the official rates of interest. |