Registration number:
Clifford Limited
for the Year Ended 31 December 2022
Clifford Limited
(Registration number: 04649060)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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|
|
Cash at bank and in hand |
- |
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|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
5,000 |
5,000 |
|
Retained earnings |
183,712 |
185,812 |
|
Shareholders' funds |
188,712 |
190,812 |
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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Clifford Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and rounded to the nearest pound.
Going concern
The Company is in negotiations regarding the sale of the quarry. Therefore, the accounts have not been prepared on a going concern basis.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax payable.
Clifford Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
20 years straight line basis |
Plant and machinery |
15% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Clifford Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Tangible assets |
Land and buildings |
Plant and machinery |
Total |
|
Cost or valuation |
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At 1 January 2022 |
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At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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Included within the net book value of land and buildings above is £390,912 (2021 - £422,963) in respect of freehold land and buildings.
Debtors |
Current |
2022 |
2021 |
Trade debtors |
|
|
Prepayments |
|
- |
Other debtors |
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|
|
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Clifford Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
|
Due within one year |
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Trade creditors |
|
- |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
- |
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Other creditors |
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|
|
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
Ordinary shares of £1 each of £1 each |
5,000 |
5,000 |
5,000 |
5,000 |
Related party transactions |
Summary of transactions with parent
During the year, the company entered into the following transactions with related parties: Nikolaus Bagnara SpA £nil (2021: £Nil).
At the year end the company owed to Nikolaus Bagnara SpA £338,301 (2021: £340,667). This transaction relates to an amount received from the parent undertaking in prior years in order to fund expenses incurred by the company. The balance outstanding at the reporting date represents an unsecured interest-free loan from the parent undertaking which is repayable on demand.
Relationship between entity and parents |
The parent of the largest group in which these financial statements are consolidated is
The address of Nikolaus Bagnara SpA is: