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CLEARGROUND LIMITED

Unaudited Financial Statements

for the Year Ended 30th September 2023






CLEARGROUND LIMITED (REGISTERED NUMBER: 04887730)






Contents of the Financial Statements
for the year ended 30th September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLEARGROUND LIMITED

Company Information
for the year ended 30th September 2023







DIRECTOR: P Piercy





SECRETARY: Mrs C Piercy





REGISTERED OFFICE: 67c Corporation Road
Birkenhead
Merseyside
CH41 3NG





REGISTERED NUMBER: 04887730 (England and Wales)






CLEARGROUND LIMITED (REGISTERED NUMBER: 04887730)

Balance Sheet
30th September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 160
Tangible assets 5 246,872 243,989
246,872 244,149

CURRENT ASSETS
Debtors 6 662,040 661,817
Cash at bank and in hand 151,249 166,819
813,289 828,636
CREDITORS
Amounts falling due within one year 7 807,473 807,969
NET CURRENT ASSETS 5,816 20,667
TOTAL ASSETS LESS CURRENT LIABILITIES 252,688 264,816

CREDITORS
Amounts falling due after more than one
year

8

(127,821

)

(177,199

)

PROVISIONS FOR LIABILITIES (53,190 ) (46,358 )
NET ASSETS 71,677 41,259

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 71,577 41,159
SHAREHOLDERS' FUNDS 71,677 41,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 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.

CLEARGROUND LIMITED (REGISTERED NUMBER: 04887730)

Balance Sheet - continued
30th September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st January 2024 and were signed by:





P Piercy - Director


CLEARGROUND LIMITED (REGISTERED NUMBER: 04887730)

Notes to the Financial Statements
for the year ended 30th September 2023

1. STATUTORY INFORMATION

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

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 five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the term of the lease, whichever is shorter.

Plant and machinery and Motor Vehicles - Based upon individual assets useful economic life and expected future market value.

Fixtures and fittings - 20% 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.

CLEARGROUND LIMITED (REGISTERED NUMBER: 04887730)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 28 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st October 2022
and 30th September 2023 804
AMORTISATION
At 1st October 2022 644
Charge for year 160
At 30th September 2023 804
NET BOOK VALUE
At 30th September 2023 -
At 30th September 2022 160

CLEARGROUND LIMITED (REGISTERED NUMBER: 04887730)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st October 2022 435,258 78,828 176,335 690,421
Additions 6,070 1,420 50,730 58,220
Disposals (72,000 ) - (31,050 ) (103,050 )
At 30th September 2023 369,328 80,248 196,015 645,591
DEPRECIATION
At 1st October 2022 244,003 65,661 136,768 446,432
Charge for year 20,494 6,334 (9,478 ) 17,350
Eliminated on disposal (36,000 ) - (29,063 ) (65,063 )
At 30th September 2023 228,497 71,995 98,227 398,719
NET BOOK VALUE
At 30th September 2023 140,831 8,253 97,788 246,872
At 30th September 2022 191,255 13,167 39,567 243,989

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st October 2022 120,000 60,210 180,210
Additions - 50,730 50,730
At 30th September 2023 120,000 110,940 230,940
DEPRECIATION
At 1st October 2022 12,000 34,676 46,676
Charge for year 12,000 5,184 17,184
At 30th September 2023 24,000 39,860 63,860
NET BOOK VALUE
At 30th September 2023 96,000 71,080 167,080
At 30th September 2022 108,000 25,534 133,534

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 630,780 627,203
Other debtors 31,260 34,614
662,040 661,817

CLEARGROUND LIMITED (REGISTERED NUMBER: 04887730)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 58,750 58,750
Hire purchase contracts 36,423 39,024
Trade creditors 424,562 439,042
Taxation and social security 175,899 191,317
Other creditors 111,839 79,836
807,473 807,969

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 39,167 97,917
Hire purchase contracts 88,654 79,282
127,821 177,199

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1st October 2022 41,159
Profit for the year 175,218
Dividends (144,800 )
At 30th September 2023 71,577