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REGISTERED NUMBER: 04897210 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

CLARITY CAPITAL PARTNERS LIMITED

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLARITY CAPITAL PARTNERS LIMITED

Company Information
for the year ended 31 December 2023







Directors: M S Anselm
S K Datta
J J Davis
B D Tolley





Secretary: B D Tolley





Registered office: 10 Slingsby Place
St Martin's Courtyard
The Yards
London
WC2E 9AB





Registered number: 04897210 (England and Wales)





Auditors: Haines Watts
Chartered Accountants and Statutory Auditors
3rd Floor Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 5 507,742 27,037
Investments 6 62 62
507,804 27,099

Current assets
Debtors 7 448,202 585,005
Cash at bank 3,142,613 7,017,525
3,590,815 7,602,530
Creditors
Amounts falling due within one year 8 1,079,023 2,982,413
Net current assets 2,511,792 4,620,117
Total assets less current liabilities 3,019,596 4,647,216


Provisions for liabilities 10 27,870 4,014

Capital and reserves
Called up share capital 11 75,000 75,000
Capital redemption reserve 15,000 15,000
Retained earnings 2,901,726 4,553,202
Shareholders' funds 2,991,726 4,643,202
3,019,596 4,647,216

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:




M S Anselm - Director



S K Datta - Director


CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Clarity Capital Partners 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover comprises revenue recognised by the company in respect of services during the year, exclusive of sales related taxes and trade discounts.

Success fees from merger and acquisition projects are recognised when project hs been completed and ll contract obligations have been met. Project retainer fees are recognised in the month they are due under the project agreement. Earn outs recognised when the right to receive the earn outs are established. Consultancy fees are recognised in the period when the services are performed.

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Tangible fixed assets
Tangible Fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated 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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less cost to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is provided at the following annual rates in order to write off each asset over its useful life:

Short-term leasehold equipment- over the term of the lease
Fixtures and Fittings- 20% straight line
Office Equipment- 33% straight line

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Profit or Loss Statement.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of Financial Position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Statement of Financial Position date.

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Share-based payment transactions
The company issues share options to certain employees which are measured at fair value, recognised as share-based payments and expensed in the Statement of Comprehensive Income, with a corresponding increase in equity. The fair values of equity-settled payments re measured at the dates of grant using option-pricing models, taking into account the terms and conditions upon which the awards are granted.

The fair value is recognised over the period during which employees become unconditionally entitled to the awards, subject to the company's estimate of the number of awards which will be forfeited, either due to employees leaving the company prior to vesting or due to non-market based performance conditions not being met. Where an award has market-based performance conditions, the fair value of the award is adjusted for the profitability of achieving these via the option pricing model. The total amount recognised in the Profit or Loss Statement as an expense is adjusted to reflect the actual number of awards that vest, except where forfeiture is due to the failure to meet market based performance measures. In the event of a cancellation, whether by the company or by a participating employee, the compensation expense that would have been recognised over the remainder of the vesting period is recognised immediately in the Profit or Loss Statement.

3. Employees and directors

The average number of employees during the year was 20 (2022 - 20 ) .

4. Auditors' remuneration
2023 2022
£ £
Fees payable to the company's auditors for the audit of the company's
financial statements

11,000

11,000

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Tangible fixed assets
Fixtures
Short and Computer
leasehold fittings equipment Totals
£ £ £ £
Cost
At 1 January 2023 100,738 406,734 - 507,472
Additions - 520,878 72,764 593,642
Disposals (100,738 ) - - (100,738 )
At 31 December 2023 - 927,612 72,764 1,000,376
Depreciation
At 1 January 2023 100,738 379,697 - 480,435
Charge for year - 94,183 18,754 112,937
Eliminated on disposal (100,738 ) - - (100,738 )
At 31 December 2023 - 473,880 18,754 492,634
Net book value
At 31 December 2023 - 453,732 54,010 507,742
At 31 December 2022 - 27,037 - 27,037

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2023
and 31 December 2023 62
Net book value
At 31 December 2023 62
At 31 December 2022 62

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. Fixed asset investments - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Clarity Capital Partners PTY. Limited
Registered office: Australia
Nature of business: Advisory services
%
Class of shares: holding
Ordinary 100.00
2023 2022
£ £
Aggregate capital and reserves 32,846 71,905
(Loss)/profit for the year (35,334 ) 135,978

7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 237,312 265,975
Amounts owed by group undertakings 59,806 51,225
Other debtors 151,084 267,805
448,202 585,005

8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 29,346 57,050
Taxation and social security 182,446 306,253
Other creditors 867,231 2,619,110
1,079,023 2,982,413

9. Leasing agreements
Minimum lease payments fall due as follows:
2023 2022
£    £   
Within 1 year 321,076 -
Between one and five years 917,362 1,238,438
1,238,438 1,238,438

10. Provisions for liabilities
2023 2022
£ £
Deferred tax 27,870 4,014

CLARITY CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 04897210)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


10. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 January 2023 4,014
Provided during year 23,856
Balance at 31 December 2023 27,870

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
75,000 Ordinary £1 75,000 75,000

12. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Hassan Behcet (Senior Statutory Auditor)
for and on behalf of Haines Watts

13. Pension commitments

The company contributes to a defined contribution pension scheme. the assets of the schemes are held separately from those of the group in independently administered funds. The pension cost charge represents contributions payable by the company to the fund amounted to £23,902 (2022 - £15,793). Contributions totalling £10,523 (2022 - £6,530) we payable to the fund at the reporting date.

14. Related party disclosures

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with members within the group.

15. Ultimate controlling party

The directors consider the Trustees of the Clarity Employee Ownership Trust as the controlling party.