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Registration number: 07908773

Claim Easy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Claim Easy Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Claim Easy Ltd

Company Information

Directors

Mr Chris Dutton

Mr Julian Elston

Mr James Treacy

Company secretary

Mrs Emma Elston

Registered office

The Old Barn Moseley Hall Business Centre
Chelford Road
Knutsford
WA16 8RB

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Claim Easy Ltd
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Claim Easy Ltd for the year ended 31 May 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Claim Easy Ltd, as a body, in accordance with the terms of our engagement letter dated 22 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of Claim Easy Ltd and state those matters that we have agreed to state to the Board of Directors of Claim Easy Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Claim Easy Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Claim Easy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Claim Easy Ltd. You consider that Claim Easy Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Claim Easy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

20 November 2024

 

Claim Easy Ltd

(Registration number: 07908773)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,432

1,561

Current assets

 

Debtors

5

566,666

1,003,714

Cash at bank and in hand

 

317,248

558,298

 

883,914

1,562,012

Creditors: Amounts falling due within one year

6

(308,405)

(498,607)

Net current assets

 

575,509

1,063,405

Net assets

 

580,941

1,064,966

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

580,841

1,064,866

Shareholders' funds

 

580,941

1,064,966

For the financial year ending 31 May 2024 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 20 November 2024 and signed on its behalf by:
 

.........................................
Mr James Treacy
Director

 

Claim Easy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Barn Moseley Hall Business Centre
Chelford Road
Knutsford
WA16 8RB
England

These financial statements were authorised for issue by the Board on 20 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Claim Easy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Claim Easy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

79,902

79,902

Additions

5,322

5,322

At 31 May 2024

85,224

85,224

Depreciation

At 1 June 2023

78,341

78,341

Charge for the year

1,451

1,451

At 31 May 2024

79,792

79,792

Carrying amount

At 31 May 2024

5,432

5,432

At 31 May 2023

1,561

1,561

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

521,359

968,019

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

-

1,177

Prepayments

 

19,212

571

Other debtors

 

26,095

33,947

 

566,666

1,003,714

 

Claim Easy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

151

4,904

Taxation and social security

178,933

444,070

Accruals and deferred income

127,786

26,153

Other creditors

1,535

23,480

308,405

498,607

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

As at the year end there were amounts totalling £4,800 (2023: £33,947) owed from a director. The amounts are unsecured, interest free and repayable on demand.

As at the year end there were amounts totalling £30 (2023: £Nil) owed from a related party. The amounts are unsecured, interest free and repayable on demand.

9

Parent and ultimate parent undertaking

The company's immediate parent is Elston Group Holdings Limited, incorporated in England & Wales.