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Registered number: 02533929









CLEA LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CLEA LIMITED
REGISTERED NUMBER: 02533929

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
176
176

  
176
176

Current assets
  

Debtors: amounts falling due within one year
 5 
86,924
89,861

Cash at bank and in hand
 6 
245,152
241,150

  
332,076
331,011

Creditors: amounts falling due within one year
 7 
(102,690)
(104,492)

Net current assets
  
 
 
229,386
 
 
226,519

Total assets less current liabilities
  
229,562
226,695

  

Net assets
  
229,562
226,695


Capital and reserves
  

Called up share capital 
 8 
13,000
13,000

Share premium account
  
1,350
1,350

Capital redemption reserve
  
11,800
11,800

Profit and loss account
  
203,412
200,545

  
229,562
226,695


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 comprehensive income 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 26 November 2024.



L S R Morton
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
CLEA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Clea Limited ('the company') is a private company limited by shares and is incorporated and domiciled in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS.
The principal activity of the company continued to be that of publishing a magazine to carry the members' advertising in London.

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.

  
2.2

Functional and presentation currency

The company's functional and presentational currency is GBP.

 
2.3

Going concern

The company meets its day to day working capital requirements through the utilisation of its own funds generated by its magazine trading activities and by dividends from a related company.
The directors have prepared updated forecasts and projections based on a number of potential scenarios and these, together with reserves held and cost savings made, indicate that the company  has adequate resources to continue its operations for the next 12 months. The directors therefore consider it appropriate to continue to adopt the going concern basis in preparing the company’s financial statements.

 
2.4

Revenue

Revenue is generated from magazine page space sold for contracted pages and 3rd party advertising. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can bereliably measured. Revenue is measured as the fair value of the consideration received orreceivable, excluding discounts and rebates.

 
2.5

Valuation of investments

Investments in unlisted company shares are measured at cost less impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 2

 
CLEA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 8).


4.


Fixed asset investments





Unlisted
investments

£



Cost or valuation


At 1 April 2023
176



At 31 March 2024
176




Page 3

 
CLEA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
86,924
89,594

Prepayments and accrued income
-
267

86,924
89,861



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
245,152
241,150

245,152
241,150



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
36,985
37,157

Other taxation and social security
56,705
58,335

Accruals and deferred income
9,000
9,000

102,690
104,492



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



13,000 (2023 - 13,000) Ordinary shares of £1.00 each
13,000
13,000



9.


Related party transactions

The company publishes a magazine which includes advertising placed by its individual members. As a
consequence, £566,050 (2023: £570,935) of the company's turnover is derived from sales to members
of the company. Of these amounts £72,446 (2023: £75,116) is included within trade debtors at the
year end.

Page 4

 
CLEA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Controlling party

The directors do not consider there to be an ultimate controlling party.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 26 November 2024 by Hetal Mistry (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

 
Page 5