Company No:
Contents
DIRECTORS | A Blum (Appointed 21 November 2023) |
G Engelbrecht | |
H Sk Tan | |
J Leary | |
N S Simmonds | |
J Suma (Appointed 07 May 2024) | |
A Wilkes |
SECRETARY | J Kask |
REGISTERED OFFICE | 45 Gresham Street |
London | |
EC2V 7BG | |
United Kingdom |
COMPANY NUMBER | 14032746 (England and Wales) |
ACCOUNTANT | Evelyn Partners LLP |
Portwall Place | |
Portwall Lane | |
Bristol | |
BS1 6NA |
Note | 30.06.2024 | 30.06.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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3,616 | 5,808 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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710,539 | 668,789 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current (liabilities)/assets | (528,812) | 34,952 | ||
Total assets less current liabilities | (525,196) | 40,760 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net liabilities | (
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Reserves | ||||
Profit and loss account | (
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Total reserves | (
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Directors' responsibilities:
The financial statements of CLA Global Limited (registered number:
N S Simmonds
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
CLA Global Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 45 Gresham Street, London, EC2V 7BG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of CLA Global Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may significant cast doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
The Balance Sheet is showing net liabilities of £883,243 (2023 - £572,737) reflecting the start up costs incurred during the year and previous year. The Directors have reviewed the current cash resources of the company and expected cash requirements over the next 12 months and are satisfied that the Company is a going concern.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Office equipment |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
***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.
Year ended 30.06.2024 |
Period from 07.04.2022 to 30.06.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Office equipment | Computer equipment | Total | |||
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Cost | |||||
At 01 July 2023 |
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Disposals | (
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At 30 June 2024 |
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Accumulated depreciation | |||||
At 01 July 2023 |
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Charge for the financial year |
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Disposals | (
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At 30 June 2024 |
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Net book value | |||||
At 30 June 2024 |
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At 30 June 2023 |
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30.06.2024 | 30.06.2023 | ||
£ | £ | ||
Prepayments |
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VAT recoverable |
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Other debtors |
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30.06.2024 | 30.06.2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to connected companies |
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Accruals |
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Other taxation and social security |
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Other creditors |
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30.06.2024 | 30.06.2023 | ||
£ | £ | ||
Amounts owed to connected companies |
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The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1.00 towards the assets of the company in the event of liquidation.