Company Registration No. 12644924 (England and Wales)
CLEAR FOG LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
A6 Kingfisher House
Kingsway, Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0JQ
CLEAR FOG LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CLEAR FOG LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
321
321
Cash at bank and in hand
1,624
1,624
1,945
1,945
Creditors: amounts falling due within one year
4
(9,489)
(7,893)
Net current liabilities
(7,544)
(5,948)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(7,644)
(6,048)
Total equity
(7,544)
(5,948)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 11 March 2024 and are signed on its behalf by:
Mr C D Benson
Director
Company Registration No. 12644924
CLEAR FOG LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Clear Fog Ltd is a private company limited by shares incorporated in England and Wales. The registered office is .

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

Ttruehe company will cease trading on 31 March 2023 and the financial statements have been prepared on a basis other than the going concern basis.No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

1.3
Reporting period

The annual financial statements are presented for a period shorter than one year, the reason for using a shorter period is due to cessation of the company at 31 March 2023. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable due to this change.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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.

CLEAR FOG LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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 in the company's balance sheet 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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

CLEAR FOG LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
3
3
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
321
321
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
9,489
7,893
2023-03-312022-07-01false11 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr Reuben StrakerMr Charles BensonMr Matthew Strakerfalse126449242022-07-012023-03-31126449242023-03-31126449242022-06-3012644924core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112644924core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3012644924core:ShareCapital2023-03-3112644924core:ShareCapital2022-06-3012644924core:RetainedEarningsAccumulatedLosses2023-03-3112644924core:RetainedEarningsAccumulatedLosses2022-06-3012644924bus:Director22022-07-012023-03-31126449242021-07-012022-06-3012644924core:WithinOneYear2023-03-3112644924core:WithinOneYear2022-06-3012644924core:CurrentFinancialInstruments2023-03-3112644924core:CurrentFinancialInstruments2022-06-3012644924bus:PrivateLimitedCompanyLtd2022-07-012023-03-3112644924bus:SmallCompaniesRegimeForAccounts2022-07-012023-03-3112644924bus:FRS1022022-07-012023-03-3112644924bus:AuditExemptWithAccountantsReport2022-07-012023-03-3112644924bus:Director12022-07-012023-03-3112644924bus:Director32022-07-012023-03-3112644924bus:FullAccounts2022-07-012023-03-31xbrli:purexbrli:sharesiso4217:GBP