IRIS Accounts Production v24.2.0.383 05764001 director 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057640012023-03-31057640012024-03-31057640012023-04-012024-03-31057640012022-03-31057640012022-04-012023-03-31057640012023-03-3105764001ns15:EnglandWales2023-04-012024-03-3105764001ns14:PoundSterling2023-04-012024-03-3105764001ns10:Director12023-04-012024-03-3105764001ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105764001ns10:SmallEntities2023-04-012024-03-3105764001ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105764001ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105764001ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105764001ns10:FullAccounts2023-04-012024-03-310576400112023-04-012024-03-3105764001ns10:OrdinaryShareClass12023-04-012024-03-3105764001ns10:CompanySecretary12023-04-012024-03-3105764001ns10:RegisteredOffice2023-04-012024-03-3105764001ns5:CurrentFinancialInstruments2024-03-3105764001ns5:CurrentFinancialInstruments2023-03-3105764001ns5:Non-currentFinancialInstruments2024-03-3105764001ns5:Non-currentFinancialInstruments2023-03-3105764001ns5:ShareCapital2024-03-3105764001ns5:ShareCapital2023-03-3105764001ns5:RetainedEarningsAccumulatedLosses2024-03-3105764001ns5:RetainedEarningsAccumulatedLosses2023-03-3105764001ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105764001ns5:MotorVehicles2023-04-012024-03-3105764001ns5:ComputerEquipment2023-04-012024-03-3105764001ns5:NetGoodwill2023-03-3105764001ns5:NetGoodwill2024-03-3105764001ns5:NetGoodwill2023-03-3105764001ns5:MotorVehicles2023-03-3105764001ns5:ComputerEquipment2023-03-3105764001ns5:MotorVehicles2024-03-3105764001ns5:ComputerEquipment2024-03-3105764001ns5:MotorVehicles2023-03-3105764001ns5:ComputerEquipment2023-03-3105764001ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105764001ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105764001ns5:DeferredTaxation2023-03-3105764001ns5:DeferredTaxation2024-03-3105764001ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 05764001 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Clearwater Financial Planning Ltd

Clearwater Financial Planning Ltd (Registered number: 05764001)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Clearwater Financial Planning Ltd

COMPANY INFORMATION
for the year ended 31 March 2024







Director: D P Burner





Secretary: Mrs K M Burner





Registered office: 56 Fore Street
Kingsbridge
TQ7 1NY





Business address: Rotherwood Moss
Slapton
Kingsbridge
Devon
TQ7 2RA





Registered number: 05764001 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Clearwater Financial Planning Ltd (Registered number: 05764001)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 146,359 60,791
146,359 60,791

Current assets
Debtors 6 380,331 358,740
Cash at bank 136,370 184,454
516,701 543,194
Creditors
Amounts falling due within one year 7 208,568 150,702
Net current assets 308,133 392,492
Total assets less current liabilities 454,492 453,283

Creditors
Amounts falling due after more than
one year

8

(447,758

)

(348,601

)

Provisions for liabilities 9 (2,852 ) (2,852 )
Net assets 3,882 101,830

Capital and reserves
Called up share capital 10 100 100
Retained earnings 3,782 101,730
Shareholders' funds 3,882 101,830

Clearwater Financial Planning Ltd (Registered number: 05764001)

BALANCE SHEET - continued
31 March 2024


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 director acknowledges his 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.

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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2024 and were signed by:





D P Burner - Director


Clearwater Financial Planning Ltd (Registered number: 05764001)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Clearwater Financial Planning 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 represents commissions and fees receivable. Turnover is recognised as earned when the company is entitled to receipt from relevant policies; and when fee work has been completed.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

Clearwater Financial Planning Ltd (Registered number: 05764001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 19,500
Amortisation
At 1 April 2023
and 31 March 2024 19,500
Net book value
At 31 March 2024 -
At 31 March 2023 -

Clearwater Financial Planning Ltd (Registered number: 05764001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 April 2023 60,226 32,865 93,091
Additions 131,134 3,220 134,354
At 31 March 2024 191,360 36,085 227,445
Depreciation
At 1 April 2023 15,056 17,244 32,300
Charge for year 44,076 4,710 48,786
At 31 March 2024 59,132 21,954 81,086
Net book value
At 31 March 2024 132,228 14,131 146,359
At 31 March 2023 45,170 15,621 60,791

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,183 18,027
Amounts owed by group undertakings 115,824 113,824
Other debtors 224,324 226,889
380,331 358,740

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 24,051 5,313
Trade creditors 1 -
Taxation and social security 91,157 68,295
Other creditors 93,359 77,094
208,568 150,702

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 154,924 46,083
Other creditors 292,834 302,518
447,758 348,601

Clearwater Financial Planning Ltd (Registered number: 05764001)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,852 2,852

Deferred
tax
£   
Balance at 1 April 2023 2,852
Balance at 31 March 2024 2,852

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

During the year the company paid rent of £18,100 to it's parent company DKHP Holding Ltd.