0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 560,930 165,384 726,314 726,314 560,930 xbrli:pure xbrli:shares iso4217:GBP 11123041 2023-01-01 2023-12-31 11123041 2023-12-31 11123041 2022-12-31 11123041 2022-01-01 2022-12-31 11123041 2022-12-31 11123041 2021-12-31 11123041 bus:Director1 2023-01-01 2023-12-31 11123041 core:WithinOneYear 2023-12-31 11123041 core:WithinOneYear 2022-12-31 11123041 core:ShareCapital 2023-12-31 11123041 core:ShareCapital 2022-12-31 11123041 core:RetainedEarningsAccumulatedLosses 2023-12-31 11123041 core:RetainedEarningsAccumulatedLosses 2022-12-31 11123041 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 11123041 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 11123041 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 11123041 core:Non-currentFinancialInstruments 2023-12-31 11123041 core:Non-currentFinancialInstruments 2022-12-31 11123041 bus:SmallEntities 2023-01-01 2023-12-31 11123041 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11123041 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11123041 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11123041 bus:FullAccounts 2023-01-01 2023-12-31 11123041 core:OtherRelatedParties 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 11123041
The Clearing Ventures Limited
Filleted Unaudited Accounts
31 December 2023
The Clearing Ventures Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
5
726,314
560,930
Current assets
Debtors
6
18,178
17,332
Cash at bank and in hand
17,232
--------
--------
35,410
17,332
Creditors: amounts falling due within one year
7
( 764,619)
( 579,907)
---------
---------
Net current liabilities
( 729,209)
( 562,575)
---------
---------
Total assets less current liabilities
( 2,895)
( 1,645)
-------
-------
Net liabilities
( 2,895)
( 1,645)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 2,995)
( 1,745)
-------
-------
Shareholders deficit
( 2,895)
( 1,645)
-------
-------
These accounts 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 31 December 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 accounts 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 accounts .
The Clearing Ventures Limited
Statement of Financial Position (continued)
31 December 2023
These accounts were approved by the board of directors and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
P M Dewar
Director
Company registration number: 11123041
The Clearing Ventures Limited
Notes to the Accounts
Year ended 31 December 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 No 1 Clink Street, London, SE1 9DG.
2. Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employees
There were no employees during the year.
5. Investments
Other investments other than loans
£
Cost
At 1 January 2023
560,930
Additions
165,384
---------
At 31 December 2023
726,314
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
726,314
---------
At 31 December 2022
560,930
---------
6. Debtors
2023
2022
£
£
Trade debtors
18,078
17,232
Other debtors
100
100
--------
--------
18,178
17,332
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
764,619
579,907
---------
---------
8. Related party transactions
During the year purchases were made from a related party of £90,389 (2022: £172,320). As at the year end there is a creditor owed to the related party of £663,369 (2022: £478,657). The related party is under common control of the same shareholders.
9. Controlling party
In the opinion of the directors, there is no one ultimate controlling party.