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Company No: 14032779 (England and Wales)

CLA GLOBAL BRAND LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

CLA GLOBAL BRAND LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

CLA GLOBAL BRAND LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
CLA GLOBAL BRAND LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
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 14032779 (England and Wales)
ACCOUNTANT Evelyn Partners LLP
Portwall Place
Portwall Lane
Bristol
BS1 6NA
CLA GLOBAL BRAND LIMITED

BALANCE SHEET

As at 30 June 2024
CLA GLOBAL BRAND LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Current assets
Debtors 3 494,378 170,665
Cash at bank and in hand 0 47,990
494,378 218,655
Creditors: amounts falling due within one year 4 ( 212,477) ( 213,446)
Net current assets 281,901 5,209
Total assets less current liabilities 281,901 5,209
Creditors: amounts falling due after more than one year 5 ( 284,588) 0
Net (liabilities)/assets ( 2,687) 5,209
Reserves
Profit and loss account ( 2,687 ) 5,209
Total reserves ( 2,687) 5,209

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of CLA Global Brand Limited (registered number: 14032779) were approved and authorised for issue by the Board of Directors on 09 January 2025. They were signed on its behalf by:

N S Simmonds
Director
CLA GLOBAL BRAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
CLA GLOBAL BRAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

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.

General information and basis of accounting

CLA Global Brand 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 Brand 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.

Going concern

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 cast significant 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Revenue comprises amounts received and receivable from CLA Global Limited for the use of the brand and trademarks for the CLA Global network. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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 instruments

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.

2. Employees

Year ended
30.06.2024
Period from
07.04.2022 to
30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Debtors

30.06.2024 30.06.2023
£ £
Amounts owed by connected companies 494,378 170,665

Amounts owed by connected companies are interest free and repayable on demand.

4. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Trade creditors 0 31,544
Amounts owed to connected companies 125,000 0
Accruals 5,081 145,458
Other taxation and social security 82,396 36,444
212,477 213,446

Amounts owed to connected companies bears interest at 4.27% per annum which has been deemed to be as at market rate.

5. Creditors: amounts falling due after more than one year

30.06.2024 30.06.2023
£ £
Amounts owed to connected companies 284,588 0

Amounts owed to connected companies bears interest at 4.27% per annum which has been deemed to be as at market rate.

6. Company status

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.