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REGISTERED NUMBER: 05466565 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CLEARLEFT LIMITED

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLEARLEFT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R A Rutter





SECRETARY: R A Rutter





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 05466565 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,904 2,168
Tangible assets 5 27,929 32,362
Investments 6 12,294 12,294
42,127 46,824

CURRENT ASSETS
Debtors 7 407,270 122,138
Prepayments and accrued income 26,492 18,052
Cash at bank and in hand 229,818 500,860
663,580 641,050
CREDITORS
Amounts falling due within one year 8 641,357 365,936
NET CURRENT ASSETS 22,223 275,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,350

321,938

CREDITORS
Amounts falling due after more than one
year

9

(227,358

)

(290,936

)

PROVISIONS FOR LIABILITIES (6,983 ) (8,091 )
NET (LIABILITIES)/ASSETS (169,991 ) 22,911

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (169,995 ) 22,907
SHAREHOLDERS' FUNDS (169,991 ) 22,911

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 21 August 2024 and were signed by:



R A Rutter - Director


CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Clearleft 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.

Turnover
Turnover represents invoiced sales of goods and services excluding value added tax, including accrued income for work completed as at the year end which was invoiced shortly after the year, and excluding deferred income form amounts invoiced in advance of the completion of work.

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.

Patents and licences 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.
Long leasehold - 10% on cost
Improvements to property - 5% on cost
Fixtures and fittings - 25% on cost
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.

Hire purchase and leasing commitments
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 20 (2023 - 18 ) .

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2023
and 31 March 2024 2,636
AMORTISATION
At 1 April 2023 468
Amortisation for year 264
At 31 March 2024 732
NET BOOK VALUE
At 31 March 2024 1,904
At 31 March 2023 2,168

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Long to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 14,975 13,495 60,561 131,819 220,850
Additions - 2,275 - 2,998 5,273
At 31 March 2024 14,975 15,770 60,561 134,817 226,123
DEPRECIATION
At 1 April 2023 2,995 1,350 58,760 125,383 188,488
Charge for year 2,995 1,548 529 4,634 9,706
At 31 March 2024 5,990 2,898 59,289 130,017 198,194
NET BOOK VALUE
At 31 March 2024 8,985 12,872 1,272 4,800 27,929
At 31 March 2023 11,980 12,145 1,801 6,436 32,362

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Painting 12,294 12,294

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 162,039 76,257
Tax 84,585 -
Prepayments 160,646 45,881
407,270 122,138

CLEARLEFT LIMITED (REGISTERED NUMBER: 05466565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 54,458
Trade creditors 148,130 29,821
Social security and other taxes 22,173 35,703
VAT 66,667 26,414
Other creditors 19,748 10,565
Directors' loan accounts 75,019 1,798
Accruals and deferred income 259,620 207,177
641,357 365,936

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 25,000 75,000
Other creditors 152,358 165,936
227,358 290,936

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mr R Rutter increased his loan to the company. As at the year end 31 March 2024 the balance owned by the company to the director was £75,019 (2023: £1,798). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

During the year, the company paid rent of £97,800 to A Budd and R Rutter SASS of which two of the directors are the trustees. These transactions were carried out at market rates and on normal commercial terms.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Clearleft Trustees Limited.

This is by virtue of their 75% holding of the ordinary share capital.