CLP Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06550731 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

CLP SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A K Sirpal

Mrs R R Sirpal

SECRETARY:

A K Sirpal

REGISTERED OFFICE:

Unit 5 Park Rose Industrial Estate

Middlemore Road

Smethwick

Warley

West Midlands

B66 2DZ

REGISTERED NUMBER:

06550731 (England and Wales)

ACCOUNTANTS:

CHEADLES

Chartered Accountants

Telegraph House

59 Wolverhampton Road

Stafford

Staffordshire

ST17 4AW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,996

5,606

3,996

5,606

CURRENT ASSETS

Stocks

6

6,645

37,681

Debtors

7

82,108

85,086

Cash at bank

20,217

12,739

108,970

135,506

CREDITORS

Amounts falling due within one year

8

49,103

89,111

NET CURRENT ASSETS

59,867

46,395

TOTAL ASSETS LESS CURRENT LIABILITIES

63,863

52,001

CREDITORS

Amounts falling due after more than one year

9

(50,000

)

(50,000

)

PROVISIONS FOR LIABILITIES

(700

)

(910

)

NET ASSETS

13,163

1,091

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

13,063

991

SHAREHOLDERS' FUNDS

13,163

1,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 17 October 2018 and were signed on its behalf by:

A K Sirpal - Director

1.	STATUTORY INFORMATION

CLP Supplies 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and

assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the

amounts reported for revenues and expenses during the year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful

economic life of that asset as follows:

Website Development - 25% straight line

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

The Directors review stock held at the balance sheet date to ensure that only those goods deemed fit for future

sales are included.

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.

Employee benefits

The company's holiday period is 1 April - 31 March, therefore no accrued holiday pay provision is required in

these accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Web site

£

COST

At 1 April 2017

and 31 March 2018

3,815

AMORTISATION

At 1 April 2017

and 31 March 2018

3,815

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

and 31 March 2018

625

6,500

11,564

18,689

DEPRECIATION

At 1 April 2017

420

2,844

9,819

13,083

Charge for year

41

914

655

1,610

At 31 March 2018

461

3,758

10,474

14,693

NET BOOK VALUE

At 31 March 2018

164

2,742

1,090

3,996

At 31 March 2017

205

3,656

1,745

5,606

6.

STOCKS

31.3.18

31.3.17

£

£

Stocks

3,780

10,600

Goods in transit

2,865

27,081

6,645

37,681

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

82,108

80,890

Other debtors

-

4,196

82,108

85,086

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

15

-

Hire purchase contracts

-

1,813

Trade creditors

3,492

25,322

Taxation and social security

13,994

11,452

Other creditors

31,602

50,524

49,103

89,111

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

50,000

50,000

Directors loans of £50,000 are repayable within one year and one day. In accordance with FRS 102A these loans

have not been discounted as the discounted element is deemed immaterial.

10.	ULTIMATE CONTROLLING PARTY

The company is jointly owned by Mr A Sirpal and Mrs R Sirpal who each own 50% of the share capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of CLP Supplies Limited for the year ended 31 March 2018 which comprise the Income Statement,

Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CLP Supplies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CLP Supplies Limited and state those matters that we have agreed to state to the Board of Directors of CLP Supplies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CLP Supplies Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CLP Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CLP Supplies Limited. You consider that CLP Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CLP Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

CHEADLES

Chartered Accountants

Telegraph House

59 Wolverhampton Road

Stafford

Staffordshire

ST17 4AW

18 October 2018