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Registration number: 07073226

CLAR Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

CLAR Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

CLAR Holdings Ltd

Company Information

Directors

Mr Lloyd Geoffrey Williams

Mrs Christine Ann Williams

Mr Adam Lloyd Williams

Registered office

118 Bushbury Lane
Wolverhampton
West Midlands
WV10 9TW

 

CLAR Holdings Ltd

(Registration number: 07073226)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,336,980

1,455,269

Current assets

 

Debtors

5

26,824

146,180

Cash at bank and in hand

 

1,097,620

976,256

 

1,124,444

1,122,436

Creditors: Amounts falling due within one year

6

(69,199)

(234,451)

Net current assets

 

1,055,245

887,985

Total assets less current liabilities

 

2,392,225

2,343,254

Provisions for liabilities

(26,768)

(32,833)

Net assets

 

2,365,457

2,310,421

Capital and reserves

 

Called up share capital

4

4

Retained earnings

2,365,453

2,310,417

Shareholders' funds

 

2,365,457

2,310,421

For the financial year ending 30 April 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

 

CLAR Holdings Ltd

(Registration number: 07073226)
Balance Sheet as at 30 April 2024

.........................................
Mr Lloyd Geoffrey Williams
Director

.........................................
Mr Adam Lloyd Williams
Director

 

CLAR Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
118 Bushbury Lane
Wolverhampton
West Midlands
WV10 9TW

These financial statements were authorised for issue by the Board on 28 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

 

CLAR Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Short Leasehold Property

in accordance with the property

Plant and machinery

20% on reducing balance

Motor vehicles

20% on reducing balance

Computer Equipment

33% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

CLAR Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

CLAR Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Freehold property
£

Computer Equipment
 £

Motor vehicles
 £

Short leasehold
 £

Plant and Machinery
£

Total
£

Cost or valuation

At 1 May 2023

861,173

12,106

89,138

586,544

277,599

1,826,560

Disposals

-

-

(54,310)

-

-

(54,310)

At 30 April 2024

861,173

12,106

34,828

586,544

277,599

1,772,250

Depreciation

At 1 May 2023

-

7,990

39,041

130,344

193,916

371,291

Charge for the year

-

4,116

4,458

65,172

16,736

90,482

Eliminated on disposal

-

-

(26,503)

-

-

(26,503)

At 30 April 2024

-

12,106

16,996

195,516

210,652

435,270

Carrying amount

At 30 April 2024

861,173

-

17,832

391,028

66,947

1,336,980

At 30 April 2023

861,173

4,116

50,097

456,200

83,683

1,455,269

 

CLAR Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

12

Amounts owed by group undertakings

26,743

146,168

Other debtors

 

81

-

   

26,824

146,180

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1

-

Amounts owed to related parties

8,191

149,199

Taxation and social security

 

58,257

82,502

Accruals

 

2,750

2,750

 

69,199

234,451