Cleeve Materials Handling Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06872446 (England and Wales)

Cleeve Materials Handling Limited

Financial Statements For The Year Ended 31 July 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L Ashurst

R Baker

A Priestley

REGISTERED OFFICE:

Sandall Stones Road

Kirk Sandall

Doncaster

DN3 1QR

REGISTERED NUMBER:

06872446 (England and Wales)

AUDITORS:

Allotts Business Services Ltd, Statutory Auditor

Chartered Accountants

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

BANKERS:

Barclays Bank plc

14 Commercial Street

Sheffield

South Yorkshire

S1 2AT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,973

2,961

1,973

2,961

CURRENT ASSETS

Debtors

6

652,485

114,642

Cash at bank

9,690

18,259

662,175

132,901

CREDITORS

Amounts falling due within one year

7

718,372

266,649

NET CURRENT LIABILITIES

(56,197

)

(133,748

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(54,224

)

(130,787

)

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

(55,224

)

(131,787

)

SHAREHOLDERS' FUNDS

(54,224

)

(130,787

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 9 April 2020 and were signed on its behalf by:

A Priestley - Director

1.	STATUTORY INFORMATION

Cleeve Materials Handling 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.

Notwithstanding the deficiency in net assets of £54,224 at the year end, the accounts have been prepared on the

going concern basis. The directors consider this basis to be appropriate as the parent undertaking has provided

an undertaking to support the company for a period of at least one year from the date of approval of these

financial statements and they anticipate the deficiency will be eliminated by the generation of profits in the

foreseeable future. The amount owed to group undertakings at the year end was £261,733.

Turnover

Turnover is the total value of work completed in the year together with the value of incomplete contracts for the

supply and installation of goods. Maintenance works and manufactured goods are recognised upon completion

and delivery as appropriate.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been fully

amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33.33% on cost

Motor vehicles

-

33.33% on reducing balance

Depreciation is charged following the month of acquisition.

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.

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 6 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2018

and 31 July 2019

3,000

AMORTISATION

At 1 August 2018

and 31 July 2019

3,000

NET BOOK VALUE

At 31 July 2019

-

At 31 July 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 August 2018

and 31 July 2019

24,869

19,982

44,851

DEPRECIATION

At 1 August 2018

24,869

17,021

41,890

Charge for year

-

988

988

At 31 July 2019

24,869

18,009

42,878

NET BOOK VALUE

At 31 July 2019

-

1,973

1,973

At 31 July 2018

-

2,961

2,961

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

282,684

110,974

Other debtors

19,651

-

Amounts recoverable on contracts

344,537

105

Corporation tax recoverable

5,613

-

Prepayments and accrued income

-

3,563

652,485

114,642

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

348,302

75,297

Amounts owed to group undertakings

261,733

98,628

Taxation

5,695

-

Social security and other taxes

5,679

5,658

Other creditors

207

224

Payments on account

-

6,339

Accrued expenses

96,756

80,503

718,372

266,649

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1,000

Ordinary

£1.00

1,000

1,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Pepper FCA (Senior Statutory Auditor)

for and on behalf of Allotts Business Services Ltd, Statutory Auditor

10.	CONTINGENT LIABILITIES

There is in place a cross guarantee and debenture between the company and its ultimate parent undertaking,

Don Valley Engineering Group Limited, its parent undertaking, Don Valley Engineering Holdings Limited and two

other subsidiaries of the parent undertaking, Don Valley Engineering Company Limited and Don Valley

Engineering Construction Limited dated 27 March 2019.

11.	OTHER FINANCIAL COMMITMENTS

At the year end, the company had total commitments under a non cancellable operating lease in respect of a

property it occupies totalling £9,965 (2018: £29,894).

12.	RELATED PARTY DISCLOSURES

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.

13.	PARENT UNDERTAKING

The parent undertaking is Don Valley Holdings Limited, a private company, limited by shares, registered in

England and Wales. The registered office is; Sandall Stones Road, Kirk Sandall, Doncaster, DN3 1QR.

14.	ULTIMATE HOLDING COMPANY

The ultimate holding company is Don Valley Engineering Group Limited, a private company, limited by shares,

registered in England and Wales. The registered office is; Sandall Stones Road, Kirk Sandall, Doncaster, DN3

1QR.

15.

COVID-19

Since the start of 2020 the world has been suffering from the gradual impact caused by the Coronavirus, which

in March 2020 began to impact in the UK in a major way. The UK government introduced restrictions from 24

March on the population's movements to reduce the spread of the virus and the full impact of these restrictions

on the company and group's customers, suppliers and staff is not clear at the present time. The government's

forms of assistance will assist the company and group to continue until the restrictions are lifted and business

activity returns to normal.The Don Valley Engineering Group do work for businesses within the food sector and

we are requested to support them with our teams being considered critical workers. We will be able to continue

certain business whilst taking all possible steps to safeguard our work force. Discussions with the Group's

bankers and revised short term forecasts for the period anticipated to be affected by the virus and restrictions

has given the directors confidence that the company and group will have sufficient resources to continue trading

for the period of 12 months from the date of approval of these accounts. The directors acknowledge the impact

of the virus and the restrictions do create material uncertainties on the ability of the company and group to

continue trading for the foreseeable future and it could also impact upon the ability of its customers and suppliers

to be able to continue. Based upon the limited information available about the impact of the virus on the UK and

world economy in the future, the directors consider that it remains appropriate to prepare the accounts on a

going concern basis but it is acknowledged that this could change if the effects of the virus continue for a longer

period than currently forecast. It is assumed that the support available to businesses from the government will

continue for an extended period, if needed, given statements made by the Prime Minister and Chancellor in

March 2020 that the government would provide whatever support was needed.