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REGISTERED NUMBER: 03345660 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2022

for

CLAYTON EURO RISK LIMITED

CLAYTON EURO RISK LIMITED (REGISTERED NUMBER: 03345660)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLAYTON EURO RISK LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: L Schwarz
M Apostolidis
V Myller Igknay





REGISTERED OFFICE: Bath House
6-8 Bath Street
Bristol
BS1 6HL





REGISTERED NUMBER: 03345660 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Bristol) Limited
Bath House
6-8 Bath Street
Bristol
BS1 6HL

CLAYTON EURO RISK LIMITED (REGISTERED NUMBER: 03345660)

Balance Sheet
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 16,956 16,956
16,956 16,956

CURRENT ASSETS
Debtors 6 1,321,356 1,140,158
Cash at bank and in hand 1,317,171 2,446,528
2,638,527 3,586,686
CREDITORS
Amounts falling due within one year 7 (768,154 ) (953,027 )
NET CURRENT ASSETS 1,870,373 2,633,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,887,329

2,650,615

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,887,229 2,650,515
SHAREHOLDERS' FUNDS 1,887,329 2,650,615

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

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

CLAYTON EURO RISK LIMITED (REGISTERED NUMBER: 03345660)

Balance Sheet - continued
31 DECEMBER 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





M Apostolidis - Director


CLAYTON EURO RISK LIMITED (REGISTERED NUMBER: 03345660)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022


1. COMPANY INFORMATION

Clayton Euro Risk 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 company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue ot adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents income from the supply of specialist consultancy business focused on credit and risk encompassing all branches of consumer finance, excluding value added tax. Income is recognised as the contract activity progresses to reflect the company's partial performance of its contractual obligations. Unbilled revenue is shown within debtors as accrued income.

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 - Straight line until lease review date
Office equipment - Straight line over 5 years
Fixtures and fittings - Straight line over 7 years
Computer equipment - Straight line over 3 years

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes those directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

CLAYTON EURO RISK LIMITED (REGISTERED NUMBER: 03345660)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

CLAYTON EURO RISK LIMITED (REGISTERED NUMBER: 03345660)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 January 2022 5,869 43,337 203,737 252,943
Disposals (3,510 ) - (123,014 ) (126,524 )
At 31 December 2022 2,359 43,337 80,723 126,419
DEPRECIATION
At 1 January 2022 5,869 43,337 203,737 252,943
Eliminated on disposal (3,510 ) - (123,014 ) (126,524 )
At 31 December 2022 2,359 43,337 80,723 126,419
NET BOOK VALUE
At 31 December 2022 - - - -
At 31 December 2021 - - - -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 16,956
NET BOOK VALUE
At 31 December 2022 16,956
At 31 December 2021 16,956

CLAYTON EURO RISK LIMITED (REGISTERED NUMBER: 03345660)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 487,192 308,102
Amounts owed by group undertakings 517,069 515,121
Other debtors 152,849 152,849
S455 tax recoverable 164,044 164,044
VAT 202 42
1,321,356 1,140,158

Within amounts owed to the company by group undertakings is a loan of £500,798 to Hellenic Holdings LLC, the ultimate parent of the Company. This loan is interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other loans - 385,332
Trade creditors 88,593 60,344
Corporation tax 75,828 32,626
Accrued expenses 603,733 474,725
768,154 953,027

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

9. CONTROLLING PARTY

The company is controlled by Clayton Holdings UK Limited, whose ultimate controlling party is Hellenic Holdings LLC, a limited liability company incorporated in the USA.