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COMPANY REGISTRATION NUMBER: 11068672
Clearwater Asset Holdings Ltd
Filleted Unaudited Financial Statements
30 November 2023
Clearwater Asset Holdings Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
4
700
Current assets
Debtors
5
181,440
185,551
Creditors: amounts falling due within one year
6
114,238
116,733
---------
---------
Net current assets
67,202
68,818
--------
--------
Total assets less current liabilities
67,202
69,518
Creditors: amounts falling due after more than one year
7
2,468
2,558
--------
--------
Net assets
64,734
66,960
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
64,634
66,860
--------
--------
Shareholders funds
64,734
66,960
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Clearwater Asset Holdings Ltd
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
Mr S A Morgan
Mr A Rohrer
Director
Director
Company registration number: 11068672
Clearwater Asset Holdings Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Short leasehold property
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Intangible assets
Intangible asset user defined 1
£
Cost
At 1 December 2022 and 30 November 2023
3,500
-------
Amortisation
At 1 December 2022
2,800
Charge for the year
700
-------
At 30 November 2023
3,500
-------
Carrying amount
At 30 November 2023
-------
At 30 November 2022
700
-------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
181,440
184,492
Other debtors
1,059
---------
---------
181,440
185,551
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,025
1,028
Trade creditors
1,417
3,052
Amounts owed to group undertakings and undertakings in which the company has a participating interest
66,645
107,615
Other creditors
45,151
5,038
---------
---------
114,238
116,733
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,468
2,558
-------
-------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S A Morgan
1,059
( 40,969)
( 39,910)
Mr A Rohrer
( 3,622)
( 3,622)
-------
--------
--------
( 2,563)
( 40,969)
( 43,532)
-------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S A Morgan
1,059
1,059
Mr A Rohrer
( 11,255)
7,633
( 3,622)
--------
-------
-------
( 10,196)
7,633
( 2,563)
--------
-------
-------