Registered number
06916180
Clearpath Consultancy Limited
Filleted Accounts
31 May 2022
Clearpath Consultancy Limited
Registered number: 06916180
Balance Sheet
as at 31 May 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,672 2,229
Investments 4 37,701 32,651
39,373 34,880
Current assets
Debtors 5 50,121 45,197
Cash at bank and in hand 52,766 40,958
102,887 86,155
Creditors: amounts falling due within one year 6 (18,648) (15,729)
Net current assets 84,239 70,426
Net assets 123,612 105,306
Capital and reserves
Called up share capital 100 100
Profit and loss account 123,512 105,206
Shareholders' funds 123,612 105,306
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.
Adam Park
Director
Approved by the board on 9 August 2022
Clearpath Consultancy Limited
Notes to the Accounts
for the year ended 31 May 2022
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 25% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2021 7,122
At 31 May 2022 7,122
Depreciation
At 1 June 2021 4,893
Charge for the year 557
At 31 May 2022 5,450
Net book value
At 31 May 2022 1,672
At 31 May 2021 2,229
4 Investments
Other
investments
£
Cost
At 1 June 2021 32,651
Additions 5,050
At 31 May 2022 37,701
5 Debtors 2022 2021
£ £
Trade debtors 46,652 39,654
Directors' loan 3,469 5,543
50,121 45,197
6 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 18,648 15,729
7 Controlling party
The Director, Isabella Park, controls the company by virtue of her shareholding and directorship.
8 Other information
Clearpath Consultancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Birchin Court
20 Birchin Lane
London
EC3V 9DU
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