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REGISTERED NUMBER: 09157778 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Closir Ltd

Closir Ltd (Registered number: 09157778)






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

Report of the Accountants 7

Closir Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: A Alsamarri
M Chojnacki
T Greer





REGISTERED OFFICE: 14 London Terrace
Hackney Road
London
E2 7SQ





REGISTERED NUMBER: 09157778 (England and Wales)





ACCOUNTANTS: Kempton Accountancy Services Limited
31 Lake Drive
Weldon
Northamptonshire
NN17 3FE

Closir Ltd (Registered number: 09157778)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9 9,190
Tangible assets 5 377 234
386 9,424

CURRENT ASSETS
Debtors 6 109,042 106,578
Cash at bank 10,284 1,894
119,326 108,472
CREDITORS
Amounts falling due within one year 7 193,071 109,335
NET CURRENT LIABILITIES (73,745 ) (863 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(73,359

)

8,561

CAPITAL AND RESERVES
Called up share capital 87 87
Share premium 386,357 386,357
Capital redemption reserve 6 6
Retained earnings (459,809 ) (377,889 )
(73,359 ) 8,561

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 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.

Closir Ltd (Registered number: 09157778)

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 Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





T Greer - Director


Closir Ltd (Registered number: 09157778)

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

1. STATUTORY INFORMATION

Closir 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.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Closir Ltd (Registered number: 09157778)

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

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 September 2022
and 31 August 2023 463,995
AMORTISATION
At 1 September 2022 454,805
Amortisation for year 9,181
At 31 August 2023 463,986
NET BOOK VALUE
At 31 August 2023 9
At 31 August 2022 9,190

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022 924 5,011 5,935
Additions 266 - 266
At 31 August 2023 1,190 5,011 6,201
DEPRECIATION
At 1 September 2022 693 5,008 5,701
Charge for year 123 - 123
At 31 August 2023 816 5,008 5,824
NET BOOK VALUE
At 31 August 2023 374 3 377
At 31 August 2022 231 3 234

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 56,538 49,711
Other debtors 52,504 52,504
VAT - 4,363
109,042 106,578

Closir Ltd (Registered number: 09157778)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other loans (see note 8) 74,629 74,354
Trade creditors - 1
Social security and other taxes 8,302 7,596
VAT 206 -
Other creditors 4,931 4,931
Directors' current accounts 103,103 20,553
Accrued expenses 1,900 1,900
193,071 109,335

8. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Other loans 8,446 8,446
Convertible Promissory Note 66,183 65,908
74,629 74,354

CONVERTIBLE PROMISSORY NOTE

This was originally due to be repaid as at 21 May 2017. As of the date of this report the Note has yet to be repaid - both parties are currently in negotiation with a view to the Note being repaid in full as soon as possible.

If (prior to the date of the repayment of the loan) the company decides to issue new shares where the aggregate gross proceeds to the company (exclusive of the conversion of this note) are at least £645,657 then the unpaid principal amount plus all accrued and unpaid interest will automatically be converted into ordinary share capital.

Closir Ltd

Report of the Accountants to the Directors of
Closir Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Kempton Accountancy Services Limited
31 Lake Drive
Weldon
Northamptonshire
NN17 3FE


9 April 2024