REGISTERED NUMBER: 02638544 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 28 February 2023

for

Clear Graphics Limited

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

S E Edwards

REGISTERED OFFICE:

128 Metal Box Factory

London

SE1 0HS

REGISTERED NUMBER:

02638544 (England and Wales)

ACCOUNTANTS:

JDC Chartered Accountants and Business Advisors

Dencora Court

2 Meridian Way

Norwich

Norfolk

NR7 0TA

The following reproduces the text of the report prepared for the director 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 Director 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 Clear Graphics Limited for the year ended 28 February 2023 which comprise the Income Statement, Abridged 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 director of Clear Graphics Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Clear Graphics Limited and state those matters that we have agreed to state to the director of Clear Graphics Limited 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 Clear Graphics Limited and its director for our work or for this report.

It is your duty to ensure that Clear Graphics 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 Clear Graphics Limited. You consider that Clear Graphics 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 Clear Graphics 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.

JDC Chartered Accountants and Business Advisors

Dencora Court

2 Meridian Way

Norwich

Norfolk

NR7 0TA

15 August 2023

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

22,670

15,087

22,670

15,087

CURRENT ASSETS

Debtors

141,097

280,215

Cash at bank and in hand

284,770

192,767

425,867

472,982

CREDITORS

Amounts falling due within one year

130,392

91,113

NET CURRENT ASSETS

295,475

381,869

TOTAL ASSETS LESS CURRENT LIABILITIES

318,145

396,956

PROVISIONS FOR LIABILITIES

5,667

3,772

NET ASSETS

312,478

393,184

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

311,478

392,184

SHAREHOLDERS' FUNDS

312,478

393,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 August 2023 and were signed by:

S E Edwards - Director

1.	STATUTORY INFORMATION

Clear Graphics 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.	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 amounts earned for services and items procured for clients, adjusted, where necessary for the stage of completion on individual contracts. It excludes value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

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 etc

-

33% on cost, 30% on reducing balance, 15% on reducing balance and 15% 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.

Amounts recoverable on contracts

Amounts recoverable on contracts represent turnover and supply of services which has not yet been invoiced to clients. Such amounts are separately disclosed within debtors.

The valuation of amounts recoverable on fixed-price contracts is adjusted to recognise profit earned to date or foreseeable losses in accordance with the accounting policy for turnover and recognition of profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2022

and 28 February 2023

22,750

AMORTISATION

At 1 March 2022

and 28 February 2023

22,750

NET BOOK VALUE

At 28 February 2023

-

At 28 February 2022

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2022

38,264

Additions

15,857

Disposals

(7,530

)

At 28 February 2023

46,591

DEPRECIATION

At 1 March 2022

23,177

Charge for year

8,274

Eliminated on disposal

(7,530

)

At 28 February 2023

23,921

NET BOOK VALUE

At 28 February 2023

22,670

At 28 February 2022

15,087

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28.2.23

28.2.22

£

£

Within one year

14,391

15,032

Between one and five years

-

2,421

14,391

17,453

7.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.23

28.2.22

£

£

Loans secured on book debts

100

100

The Company has bank facilities which are secured by a debenture over the assets of the company and a personal guarantee to the value of £110,000 provided by the director.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23

28.2.22

£

£

S E Edwards

Balance outstanding at start of year

50,000

-

Amounts advanced

-

50,000

Amounts repaid

(50,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

50,000

The directors loan brought forward was unsecured, interest free and was repaid in full on 1 September 2022.