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REGISTERED NUMBER: 05466565 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CLEARLEFT LIMITED

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLEARLEFT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: R A Rutter
A Budd
C M Pearce





SECRETARY: R A Rutter





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 05466565 (England and Wales)





ACCOUNTANTS: Cardens Accountants and Business Advisors Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,832 -
Tangible assets 5 8,151 11,703
Investments 6 12,294 12,294
22,277 23,997

CURRENT ASSETS
Debtors 7 337,726 287,929
Prepayments and accrued income 139,815 45,008
Cash at bank and in hand 264,207 843,634
741,748 1,176,571
CREDITORS
Amounts falling due within one year 8 435,904 568,913
NET CURRENT ASSETS 305,844 607,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

328,121

631,655

CREDITORS
Amounts falling due after more than one
year

9

(175,000

)

(225,000

)

PROVISIONS FOR LIABILITIES (5,111 ) (4,559 )
NET ASSETS 148,010 402,096

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 148,006 402,092
SHAREHOLDERS' FUNDS 148,010 402,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

BALANCE SHEET - continued
31 MARCH 2022


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 5 September 2022 and were signed on its behalf by:




A Budd - Director



R A Rutter - Director


CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Clearleft 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.

Turnover
Turnover represents invoiced sales of goods and services excluding value added tax, including accrued income for work completed as at the year end which was invoiced shortly after the year, and excluding deferred income form amounts invoiced in advance of the completion of work.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 - 25% on cost
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 19 (2021 - 22 ) .

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
Additions 2,036
At 31 March 2022 2,036
AMORTISATION
Amortisation for year 204
At 31 March 2022 204
NET BOOK VALUE
At 31 March 2022 1,832

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2021 58,444 133,170 191,614
Additions - 8,297 8,297
Disposals - (10,548 ) (10,548 )
At 31 March 2022 58,444 130,919 189,363
DEPRECIATION
At 1 April 2021 52,605 127,306 179,911
Charge for year 4,259 7,590 11,849
Eliminated on disposal - (10,548 ) (10,548 )
At 31 March 2022 56,864 124,348 181,212
NET BOOK VALUE
At 31 March 2022 1,580 6,571 8,151
At 31 March 2021 5,839 5,864 11,703

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2022 2021
£    £   
Painting 12,294 12,294

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 147,241 257,057
Other debtors 273 59
Tax 135,021 -
Prepayments 55,191 30,813
337,726 287,929

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 50,000 25,000
Trade creditors 62,553 15,538
Tax - 48,702
Social security and other taxes 29,225 41,137
VAT 22,560 149,829
Other creditors 15,570 3,017
Directors' loan accounts 3,042 3,042
Accruals and deferred income 252,954 282,648
435,904 568,913

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 125,000 175,000
175,000 225,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
A Budd
Balance outstanding at start of year - 37,816
Amounts repaid - (37,816 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

R A Rutter
Balance outstanding at start of year (3,042 ) 34,772
Amounts advanced - 2
Amounts repaid - (37,816 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,042 ) (3,042 )

This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

During the year, the company paid rent of £46,088 to A Budd and R Rutter SASS of which two of the directors are the trustees. These transactions were carried out at market rates and on normal commercial terms.

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

12. COVID-19

Prior the year end and ongoing to the balance sheet date an outbreak of the COVID-19 virus occurred causing a global pandemic recognised by the World Health Organisation (WHO). The effect of UK Government measures to limit the spread of the virus have been widespread, urging people to
remain at home wherever possible, including to work from home if available and to undertake "social distancing" measures.

The events side of the business has been greatly affected with all events due to take place from March 2020 to late 2021 being postponed or taking place virtually. The overall affect on the business has been mitigated due to the consultancy work which has continued throughout the the lockdown period.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Clearleft Trustees Limited.

This is by virtue of their 75% holding of the ordinary share capital.