Registered number
11802762
Clarity NDT Ltd
Filleted Accounts
29 February 2024
Clarity NDT Ltd
Registered number: 11802762
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 690,798 463,405
Current assets
Stocks 2,550 2,050
Debtors 4 793,235 368,716
Cash at bank and in hand 240,931 171,703
1,036,716 542,469
Creditors: amounts falling due within one year 5 (670,436) (373,767)
Net current assets 366,280 168,702
Total assets less current liabilities 1,057,078 632,107
Creditors: amounts falling due after more than one year 6 (322,096) (186,407)
Provisions for liabilities (152,351) -
Net assets 582,631 445,700
Capital and reserves
Called up share capital 100 100
Profit and loss account 582,531 445,600
Shareholders' funds 582,631 445,700
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Christopher Cowen
Director
Approved by the board on 25 November 2024
Clarity NDT Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings None provided
Plant and machinery 10%/20% straight line
Fixtures, fittings, tools and equipment 10%/20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 33,076 533,967 31,865 598,908
Additions 20,528 250,893 60,873 332,294
At 29 February 2024 53,604 784,860 92,738 931,202
Depreciation
At 1 March 2023 - 122,732 12,771 135,503
Charge for the year - 81,716 23,185 104,901
At 29 February 2024 - 204,448 35,956 240,404
Net book value
At 29 February 2024 53,604 580,412 56,782 690,798
At 28 February 2023 33,076 411,235 19,094 463,405
4 Debtors 2024 2023
£ £
Trade debtors 770,550 366,516
Other debtors 22,685 2,200
793,235 368,716
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 48,712 51,667
Obligations under finance lease and hire purchase contracts 67,005 -
Trade creditors 207,035 179,129
Taxation and social security costs 307,886 103,173
Other creditors 39,798 39,798
670,436 373,767
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 130,669 186,407
Obligations under finance lease and hire purchase contracts 191,427 -
322,096 186,407
7 Controlling party
The company is controlled by Mr F Newell.
8 Other information
Clarity NDT Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Ivanhoe Business Centre
Wortley Road
Rotherham
S61 1LZ
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