CLEARCYCLE LTD

Company Registration Number:
09928910 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

CLEARCYCLE LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes

CLEARCYCLE LTD

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 746,858 417,078
Tangible assets: 4 46,294 44,571
Total fixed assets: 793,152 461,649
Current assets
Stocks: 5 39,843 50,090
Debtors: 6 166,036 210,849
Cash at bank and in hand: 543,976 320,034
Total current assets: 749,855 580,973
Creditors: amounts falling due within one year: 7 ( 996,766 ) ( 778,023 )
Net current assets (liabilities): (246,911) (197,050)
Total assets less current liabilities: 546,241 264,599
Creditors: amounts falling due after more than one year: 8 ( 483,891 ) ( 214,339 )
Total net assets (liabilities): 62,350 50,260
Capital and reserves
Called up share capital: 160 160
Share premium account: 197,445 197,445
Profit and loss account: (135,255 ) (147,345 )
Total Shareholders' funds: 62,350 50,260

The notes form part of these financial statements

CLEARCYCLE LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 4 September 2024
and signed on behalf of the board by:

Name: Richard O'Connor
Status: Director

The notes form part of these financial statements

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales taxes or duty. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in resect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided at rates in order to write off the cost, less their estimated residual value, of each asset evenly over their expected useful lives as follows: Computer equipment – 3 years on a straight line basis Fixtures and fittings – 4 years on a straight line basis Plant and machinery – 4 years on a straight line basis The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 44 40

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 568,894 568,894
Additions 483,111 483,111
Disposals
Revaluations
Transfers
At 31 December 2023 1,052,005 1,052,005
Amortisation
At 1 January 2023 151,816 151,816
Charge for year 153,331 153,331
On disposals
Other adjustments
At 31 December 2023 305,147 305,147
Net book value
At 31 December 2023 746,858 746,858
At 31 December 2022 417,078 417,078

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 43,272 4,049 38,272 85,593
Additions 13,845 10,049 10,002 33,896
Disposals
Revaluations
Transfers
At 31 December 2023 57,117 14,098 48,274 119,489
Depreciation
At 1 January 2023 17,824 3,289 19,909 41,022
Charge for year 17,980 2,744 11,449 32,173
On disposals
Other adjustments
At 31 December 2023 35,804 6,033 31,358 73,195
Net book value
At 31 December 2023 21,313 8,065 16,916 46,294
At 31 December 2022 25,448 760 18,363 44,571

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Stocks

2023 2022
£ £
Stocks 39,843 50,090
Total 39,843 50,090

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
£ £
Trade debtors 14,178 8,475
Prepayments and accrued income 151,858 186,120
Other debtors 0 16,254
Total 166,036 210,849

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 10,993 10,993
Trade creditors 491,757 570,717
Taxation and social security 250,991 82,312
Accruals and deferred income 59,667 24,200
Other creditors 183,358 89,801
Total 996,766 778,023

CLEARCYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 13,958 23,848
Other creditors 469,933 190,491
Total 483,891 214,339