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REGISTERED NUMBER: 08561259 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 August 2023

for

Clearaway Limited

Clearaway Limited (Registered number: 08561259)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clearaway Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: C B Williams





REGISTERED OFFICE: Rushock Trading Estate
Rushock
Droitwich
Worcestershire
WR9 0NR





REGISTERED NUMBER: 08561259 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Clearaway Limited (Registered number: 08561259)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,555 15,514
Tangible assets 5 1,839,122 1,672,935
1,852,677 1,688,449

CURRENT ASSETS
Stocks 4,724 10,023
Debtors 6 2,661,197 2,221,840
Cash at bank and in hand 30,860 24,440
2,696,781 2,256,303
CREDITORS
Amounts falling due within one year 7 1,596,548 1,388,254
NET CURRENT ASSETS 1,100,233 868,049
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,952,910

2,556,498

CREDITORS
Amounts falling due after more than one
year

8

(849,431

)

(710,563

)

PROVISIONS FOR LIABILITIES (404,320 ) (254,621 )
NET ASSETS 1,699,159 1,591,314

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,699,059 1,591,214
SHAREHOLDERS' FUNDS 1,699,159 1,591,314

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

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

Clearaway Limited (Registered number: 08561259)

Balance Sheet - continued
31 August 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 19 March 2024 and were signed by:





C B Williams - Director


Clearaway Limited (Registered number: 08561259)

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

1. STATUTORY INFORMATION

Clearaway 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Clearaway Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods & services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the lease term
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

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 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.

Clearaway Limited (Registered number: 08561259)

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

2. ACCOUNTING POLICIES - continued

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 31 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 19,595
AMORTISATION
At 1 September 2022 4,081
Amortisation for year 1,959
At 31 August 2023 6,040
NET BOOK VALUE
At 31 August 2023 13,555
At 31 August 2022 15,514

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2022 76,304 991,345 78,769 2,523,535 3,669,953
Additions 5,594 113,420 3,302 512,217 634,533
Disposals - - - (295,225 ) (295,225 )
At 31 August 2023 81,898 1,104,765 82,071 2,740,527 4,009,261
DEPRECIATION
At 1 September 2022 65,946 545,351 51,965 1,333,756 1,997,018
Charge for year 7,676 86,887 11,216 308,442 414,221
Eliminated on disposal - - - (241,100 ) (241,100 )
At 31 August 2023 73,622 632,238 63,181 1,401,098 2,170,139
NET BOOK VALUE
At 31 August 2023 8,276 472,527 18,890 1,339,429 1,839,122
At 31 August 2022 10,358 445,994 26,804 1,189,779 1,672,935

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 930,116 855,060
Other debtors 216,275 149,867
1,146,391 1,004,927

Clearaway Limited (Registered number: 08561259)

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

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 1,514,806 1,216,913

Aggregate amounts 2,661,197 2,221,840

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 439,493 449,382
Trade creditors 427,145 302,197
Taxation and social security 236,123 159,167
Other creditors 493,787 477,508
1,596,548 1,388,254

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 849,431 710,563

9. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the end of the year was £45,157 (2021 - £70,000).

10. RELATED PARTY DISCLOSURES

The aggregate balance due by the parent company, Wingib Holdings Limited, at 31st August 2023 was £1,470,076 (2022 - £1,604,076).

The balance due by the ultimate holding company, Nivlac Holdings Ltd, was £44,731 as at 31 August 2023 (due to 2022 - £387,162).

11. ULTIMATE CONTROLLING PARTY

The ultimate parent company of Clearaway Limited is Wingib Holdings Limited, a company with a principal place of business at Rushock Trading Estate, Rushock, Droitwich, Worcestershire WR9 0NR.