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REGISTERED NUMBER: 05685709 (England and Wales)















Financial Statements

for the Year Ended 31 May 2023

for

Clear Stream Technology Ltd

Clear Stream Technology Ltd (Registered number: 05685709)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Clear Stream Technology Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: P Webb
S C Bevan





SECRETARY: S C Bevan





REGISTERED OFFICE: Clearstream Centre
Station Road
Church Village
Rhondda Cynon Taff
Wales
CF38 1AF





REGISTERED NUMBER: 05685709 (England and Wales)





ACCOUNTANTS: Barnbrook Sinclair
Chartered Accountants
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

Clear Stream Technology Ltd (Registered number: 05685709)

Statement of Financial Position
31 May 2023

31/5/23 31/5/22
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,349,297 1,345,008

CURRENT ASSETS
Stocks 1,909 2,709
Debtors 6 57,596 68,427
Cash at bank 145,596 32,290
205,101 103,426
CREDITORS
Amounts falling due within one year 7 (1,042,124 ) (775,444 )
NET CURRENT LIABILITIES (837,023 ) (672,018 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

512,274

672,990

CREDITORS
Amounts falling due after more than one
year

8

(388,983

)

(571,720

)

PROVISIONS FOR LIABILITIES 11 (36,920 ) (24,408 )
NET ASSETS 86,371 76,862

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 36,371 26,862
SHAREHOLDERS' FUNDS 86,371 76,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Clear Stream Technology Ltd (Registered number: 05685709)

Statement of Financial Position - continued
31 May 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





P Webb - Director


Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Clear Stream Technology Ltd 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.

The company balance sheet is currently showing a net current liabilities position. The financial statements have been prepared on a going concern basis on the basis that the directors have considered the most recent management accounts and forecasts and are confident that the company will continue to be able to settle its liabilities as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2.5% on cost
Improvements to property - 2.5% on cost
Plant and machinery - 33% on cost and 10% on cost
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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 statement of financial position date.


Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Computer
property property machinery equipment Totals
£    £    £    £    £   
Cost
At 1 June 2022 270,410 838,800 903,013 787,860 2,800,083
Additions - 14,921 85,248 42,480 142,649
At 31 May 2023 270,410 853,721 988,261 830,340 2,942,732
Depreciation
At 1 June 2022 72,660 383,404 282,456 716,555 1,455,075
Charge for year 1,050 14,159 84,995 38,156 138,360
At 31 May 2023 73,710 397,563 367,451 754,711 1,593,435
Net book value
At 31 May 2023 196,700 456,158 620,810 75,629 1,349,297
At 31 May 2022 197,750 455,396 620,557 71,305 1,345,008

Included in cost of land and buildings is freehold land of £ 168,000 (2022 - £ 168,000 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 57,596 40,525
Other debtors - 27,902
57,596 68,427

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts (see note 9) 32,317 41,016
Hire purchase contracts (see note 10) 117,632 104,295
Trade creditors 313,229 128,457
Amounts owed to group undertakings 200,027 200,027
Taxation and social security 83,007 3,684
Other creditors 295,912 297,965
1,042,124 775,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans (see note 9) 197,358 226,879
Hire purchase contracts (see note 10) 92,792 183,353
Other creditors 98,833 161,488
388,983 571,720

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 79,254 101,759

9. LOANS

An analysis of the maturity of loans is given below:

31/5/23 31/5/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 32,317 41,016
Other loans 62,655 57,339
94,972 98,355

Amounts falling due between one and two years:
Bank loans - 1-2 years 33,363 32,416
Other loans - 1-2 years 68,465 62,655
101,828 95,071

Amounts falling due between two and five years:
Bank loans - 2-5 years 84,741 92,704
Other loans - 2-5 years 30,368 98,833
115,109 191,537

Amounts falling due in more than five years:

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. LOANS - continued
31/5/23 31/5/22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 79,254 101,759

Bank loans are secured by a charge over the company freehold property together with a floating charge over other assets of the company.

Other loans are secured by a debenture on the parent undertaking and a secondary charge over the assets of the company, excluding the property.

Hire purchase and finance leases are secured over the asset concerned.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/5/23 31/5/22
£    £   
Gross obligations repayable:
Within one year 134,339 129,467
Between one and five years 98,438 200,772
232,777 330,239

Finance charges repayable:
Within one year 16,707 25,172
Between one and five years 5,646 17,419
22,353 42,591

Net obligations repayable:
Within one year 117,632 104,295
Between one and five years 92,792 183,353
210,424 287,648

Non-cancellable operating leases
31/5/23 31/5/22
£    £   
Within one year 20,839 33,772
Between one and five years 5,006 18,547
25,845 52,319

11. PROVISIONS FOR LIABILITIES
31/5/23 31/5/22
£    £   
Deferred tax 36,920 24,408

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 24,408
Provided during year 12,512
Balance at 31 May 2023 36,920

12. ULTIMATE CONTROLLING PARTY

The company is wholly owned and controlled by Clear Stream Technology Group Limited, a company registered in England and Wales and in which P Webb, director, holds a majority shareholding.