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REGISTERED NUMBER: 07023996 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

TOOLCLARITY LIMITED

TOOLCLARITY LIMITED (REGISTERED NUMBER: 07023996)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOOLCLARITY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2022







DIRECTOR: P W Broster





SECRETARY: E Heath





REGISTERED OFFICE: Room 73 Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 07023996 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

TOOLCLARITY LIMITED (REGISTERED NUMBER: 07023996)

BALANCE SHEET
30 SEPTEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 32,811 40,234

CURRENT ASSETS
Stocks 71,660 15,762
Debtors 6 327,110 330,264
Cash at bank 179,085 71,374
577,855 417,400
CREDITORS
Amounts falling due within one year 7 226,570 192,610
NET CURRENT ASSETS 351,285 224,790
TOTAL ASSETS LESS CURRENT
LIABILITIES

384,096

265,024

PROVISIONS FOR LIABILITIES 8 6,234 7,645
NET ASSETS 377,862 257,379

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 376,862 256,379
SHAREHOLDERS' FUNDS 377,862 257,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 30 September 2023 and were signed by:





P W Broster - Director


TOOLCLARITY LIMITED (REGISTERED NUMBER: 07023996)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. STATUTORY INFORMATION

ToolClarity 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Post year end the global health crisis caused by Coronavirus (COVID-19) has had a significant impact on all businesses. The directors have assessed the potential impact of this uncertain situation on the company and do not consider that it will lead to any subsequent impairment of the reported amount of the value of assets. Contingency plans have been put in place in order to mitigate the negative effects of any period of interrupted trading, which will enable the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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.

TOOLCLARITY LIMITED (REGISTERED NUMBER: 07023996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022

3. ACCOUNTING POLICIES - continued

Other grants relating to covid-19
Eligible businesses that were forced to close due to the government lockdown of specific businesses during the COVID-19 pandemic were entitled to a cash grant from their local council for each period under national restrictions.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 October 2021 6,644 15,973 3,772
Additions 1,197 1,014 -
At 30 September 2022 7,841 16,987 3,772
Depreciation
At 1 October 2021 3,387 5,206 2,050
Charge for year 1,013 2,904 430
At 30 September 2022 4,400 8,110 2,480
Net book value
At 30 September 2022 3,441 8,877 1,292
At 30 September 2021 3,257 10,767 1,722

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 October 2021 26,095 12,400 64,884
Additions - 958 3,169
At 30 September 2022 26,095 13,358 68,053
Depreciation
At 1 October 2021 8,627 5,380 24,650
Charge for year 4,393 1,852 10,592
At 30 September 2022 13,020 7,232 35,242
Net book value
At 30 September 2022 13,075 6,126 32,811
At 30 September 2021 17,468 7,020 40,234

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 283,070 326,211
Other debtors 2,516 2,516
Director's loan account 39,105 -
Prepayments 2,419 1,537
327,110 330,264

TOOLCLARITY LIMITED (REGISTERED NUMBER: 07023996)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 58,429 40,414
Corporation tax 50,657 49,634
VAT 9,884 13,086
Other creditors 28,874 28,874
Director's loan account - 74
Accruals and deferred income 78,726 60,528
226,570 192,610

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 6,234 7,645

Deferred
tax
£   
Balance at 1 October 2021 7,645
Capital allowances in excess
of depreciation (1,411 )
Balance at 30 September 2022 6,234

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RELATED PARTY DISCLOSURES

Included within debtors is an amount of £39,105 (2021: creditor of £74) due to the company from P W Broster, director.

Interest of £1,862 (2021: £Nil) has been charged on this balance during the year at a rate of 5% (2021: Nil) and there are no set repayment terms

This balance was cleared in full by way of a post year end dividend.