Registered number
06886335
Cleyro Limited
Filleted Accounts
31 December 2021
ARA (Bristol) Limited t/a Adams Root & Associates
Chartered Certified Accountants
Bristol
Cleyro Limited
Registered number: 06886335
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 72,391 40,846
Current assets
Debtors 4 95,604 248,097
Cash at bank and in hand 2,304,628 797,766
2,400,232 1,045,863
Creditors: amounts falling due within one year 5 (525,382) (499,918)
Net current assets 1,874,850 545,945
Total assets less current liabilities 1,947,241 586,791
Creditors: amounts falling due after more than one year 6 (175,000) -
Net assets 1,772,241 586,791
Capital and reserves
Called up share capital 150 150
Profit and loss account 1,772,091 586,641
Shareholders' funds 1,772,241 586,791
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Yeo-Smith
Director
Approved by the board on 29 June 2022
Cleyro Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Reducing balance
Leasehold Improvements 20% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 January 2021 18,236 87,663 105,899
Additions 35,429 8,247 43,676
At 31 December 2021 53,665 95,910 149,575
Depreciation
At 1 January 2021 2,735 62,318 65,053
Charge for the year 6,529 5,602 12,131
At 31 December 2021 9,264 67,920 77,184
Net book value
At 31 December 2021 44,401 27,990 72,391
At 31 December 2020 15,501 25,345 40,846
4 Debtors 2021 2020
£ £
Other debtors 95,604 248,097
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 50,000 250,000
Trade creditors 1,310 280
Corporation tax 326,027 130,610
Other taxes and social security costs 70,315 29,969
Other creditors 77,730 89,059
525,382 499,918
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 175,000 -
7 Loans with directors
Description and conditions B/fwd Paid in Repaid C/fwd
£ £ £ £
A Cleverly
This loan is interest free with no fixed date for repayment. 267 15,358 - 15,625
D Yeo-Smith
This loan is interest free with no fixed date for repayment. 5,745 15,849 - 21,594
6,012 31,207 - 37,219
8 Controlling party
The company is under the control of the directors by virtue of their 100% shareholding.
9 Related party transactions
On 23rd March 2020, the company entered into a tenant's full repairing lease on their offices which are owned by Ashley Cleverly and the Alltrust SIPP. Ashley Cleverley and Daniel Yeo-Smith are the Trustees and beneficiaries of the SIPP. The open market rent was agreed at £14,000 per annum which has been paid in full on a quarterly basis.
10 Other information
Cleyro Limited is a private company limited by shares and incorporated in England. Its registered office is:
86 Shirehampton Road
Stoke Bishop
Bristol
BS9 2DR
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