Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31true2023-02-0115No description of principal activityfalsefalse20trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07929590 2023-02-01 2024-01-31 07929590 2022-02-01 2023-01-31 07929590 2024-01-31 07929590 2023-01-31 07929590 c:Director1 2023-02-01 2024-01-31 07929590 d:Buildings 2023-02-01 2024-01-31 07929590 d:Buildings 2024-01-31 07929590 d:Buildings 2023-01-31 07929590 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07929590 d:PlantMachinery 2023-02-01 2024-01-31 07929590 d:PlantMachinery 2024-01-31 07929590 d:PlantMachinery 2023-01-31 07929590 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07929590 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07929590 d:FreeholdInvestmentProperty 2023-02-01 2024-01-31 07929590 d:FreeholdInvestmentProperty 2024-01-31 07929590 d:FreeholdInvestmentProperty 2023-01-31 07929590 d:CurrentFinancialInstruments 2024-01-31 07929590 d:CurrentFinancialInstruments 2023-01-31 07929590 d:Non-currentFinancialInstruments 2024-01-31 07929590 d:Non-currentFinancialInstruments 2023-01-31 07929590 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07929590 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07929590 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07929590 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07929590 d:ShareCapital 2024-01-31 07929590 d:ShareCapital 2023-01-31 07929590 d:RetainedEarningsAccumulatedLosses 2024-01-31 07929590 d:RetainedEarningsAccumulatedLosses 2023-01-31 07929590 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 07929590 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 07929590 d:RetirementBenefitObligationsDeferredTax 2024-01-31 07929590 d:RetirementBenefitObligationsDeferredTax 2023-01-31 07929590 c:FRS102 2023-02-01 2024-01-31 07929590 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07929590 c:FullAccounts 2023-02-01 2024-01-31 07929590 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07929590 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 07929590










CLEAR CASTLE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
CLEAR CASTLE LIMITED
REGISTERED NUMBER: 07929590

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
248,327
276,448

Investment property
 5 
83,729
246,220

  
332,056
522,668

Current assets
  

Debtors: amounts falling due within one year
 6 
132,828
121,206

Cash at bank and in hand
  
187,466
179,475

  
320,294
300,681

Creditors: amounts falling due within one year
 7 
(208,812)
(194,953)

Net current assets
  
 
 
111,482
 
 
105,728

Total assets less current liabilities
  
443,538
628,396

Creditors: amounts falling due after more than one year
 8 
(63,750)
(161,979)

Provisions for liabilities
  

Deferred tax
 9 
(5,866)
(10,905)

Net assets
  
373,922
455,512


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
373,822
455,412

  
373,922
455,512


Page 1

 
CLEAR CASTLE LIMITED
REGISTERED NUMBER: 07929590
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 October 2024.




Mr A Poole
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CLEAR CASTLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Clear Castle Limited is a private company limited by shares, incorporated in England and Wales (registered number: 07929590). Its registered office is The Town Mission, Lower Rudyerd Street, North
Shields, NE29 6NG. The principal activity of the Company throughout the period continued to be that of debt collection agency.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
CLEAR CASTLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.6

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.

Depreciation is provided on the following basis:

Freehold property
-
5%
Straight line basis
Plant and machinery
-
20%
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.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Page 4

 
CLEAR CASTLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by the Directors and derived from
the current market rents and investment property yields for comparable real estate, adjusted if
necessary for any difference in the nature, location or condition of the specific asset. No
depreciation is provided. Changes in fair value are recognised in the Statement of Income and
Retained Earnings.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
or received. However, if the arrangements of a short-term instrument constitute a financing
transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an
out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially
at the present value of future cash flows discounted at a market rate of interest for a similar debt
instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the
case of a small company, or a public benefit entity concessionary loan.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 20).

Page 5

 
CLEAR CASTLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 February 2023
243,850
114,815
358,665


Additions
-
763
763



At 31 January 2024

243,850
115,578
359,428



Depreciation


At 1 February 2023
10,530
71,687
82,217


Charge for the year on owned assets
12,192
16,692
28,884



At 31 January 2024

22,722
88,379
111,101



Net book value



At 31 January 2024
221,128
27,199
248,327



At 31 January 2023
233,320
43,128
276,448


5.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
246,220


Disposals
(162,491)



At 31 January 2024
83,729

The 2024 valuations were made by the director, on an open market value for existing use basis.






Page 6

 
CLEAR CASTLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
101,233
118,673

Amounts owed by group companies
28,303
-

Other debtors
2,365
2,533

Prepayments and accrued income
927
-

132,828
121,206



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
22,199
28,311

Trade creditors
27,460
37,590

Corporation tax
32,304
24,049

Other taxation and social security
22,051
32,976

Other creditors
99,482
67,279

Accruals and deferred income
5,316
4,748

208,812
194,953



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
63,750
161,979


Included within creditors the bank loan amount falling due after more than 5 years is £23,584.

Page 7

 
CLEAR CASTLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Deferred taxation




2024


£






At beginning of year
10,905


Charged to profit or loss
(5,039)



At end of year
5,866

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
5,950
10,905

Pension surplus
(84)
-

5,866
10,905


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,400 (2023: £3,717). Contributions totalling £337 (2023: £NIL) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8