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REGISTERED NUMBER: 11823571 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Clarity Insurance Services Ltd

Previously known as
Healthcare Clarity Limited

Clarity Insurance Services Ltd (Registered number: 11823571)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clarity Insurance Services Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K E Godden
N J Scott
A K Lawson





REGISTERED OFFICE: Lower Ground Floor, Streate Place
St. Peters Road
Bournemouth
BH1 2LT





REGISTERED NUMBER: 11823571 (England and Wales)





ACCOUNTANTS: Rawlence and Browne UDY Limited
T/A Potter and Pollard
Unit 17 Lancaster Road
Sarum Business Park
Old Sarum
Salisbury
Wiltshire
SP4 6FB

Clarity Insurance Services Ltd (Registered number: 11823571)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 127,440
Tangible assets 5 31,367 31,751
31,367 159,191

CURRENT ASSETS
Debtors 6 637,110 263,117
Cash at bank 64,933 30,276
702,043 293,393
CREDITORS
Amounts falling due within one year 7 242,490 201,629
NET CURRENT ASSETS 459,553 91,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

490,920

250,955

CREDITORS
Amounts falling due after more than one
year

8

(302,794

)

(188,890

)

PROVISIONS FOR LIABILITIES (7,842 ) (7,921 )
NET ASSETS 180,284 54,144

CAPITAL AND RESERVES
Called up share capital 176 133
Retained earnings 180,108 54,011
180,284 54,144

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 directors acknowledge their 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.

Clarity Insurance Services Ltd (Registered number: 11823571)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:




K E Godden - Director N J Scott - Director




A K Lawson - Director


Clarity Insurance Services Ltd (Registered number: 11823571)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Clarity Insurance Services Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

Computer software will be amortised over its assessed estimated useful life once it is brought in to use.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% 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.

Clarity Insurance Services Ltd (Registered number: 11823571)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 133,689
Disposals (127,440 )
At 31 March 2024 6,249
AMORTISATION
At 1 April 2023
and 31 March 2024 6,249
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 127,440

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 71,636
Additions 13,066
At 31 March 2024 84,702
DEPRECIATION
At 1 April 2023 39,885
Charge for year 13,450
At 31 March 2024 53,335
NET BOOK VALUE
At 31 March 2024 31,367
At 31 March 2023 31,751

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 264,112 228,941
Other debtors 372,998 34,176
637,110 263,117

Clarity Insurance Services Ltd (Registered number: 11823571)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 70,473 39,566
Hire purchase contracts (see note 9) 4,316 11,869
Trade creditors 2,728 23,552
Taxation and social security 135,488 68,960
Other creditors 29,485 57,682
242,490 201,629

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 302,794 185,563
Hire purchase contracts (see note 9) - 3,327
302,794 188,890

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 11,657

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 4,316 11,869
Between one and five years - 3,327
4,316 15,196

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 20,000 20,000
Between one and five years 5,000 25,000
25,000 45,000

Clarity Insurance Services Ltd (Registered number: 11823571)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
K E Godden
Balance outstanding at start of year 6,882 -
Amounts advanced 23,338 16,211
Amounts repaid (3,273 ) (9,329 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,947 6,882

N J Scott
Balance outstanding at start of year 337 -
Amounts advanced 938 587
Amounts repaid - (250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,275 337

A K Lawson
Balance outstanding at start of year 1,604 -
Amounts advanced 6,059 5,143
Amounts repaid (148 ) (3,539 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,515 1,604

11. RELATED PARTY DISCLOSURES

Included in other debtors is an amount due from Clarity Trading Group Ltd of £321,582 (2023: £Nil). Clarity Trading Group Ltd is controlled by the same beneficial owners as Clarity Insurance Services Ltd.