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The Clear Health Group Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2024

Registration number: 10870527

 

The Clear Health Group Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

The Clear Health Group Ltd

Balance Sheet

31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

9,763

12,730

Tangible assets

5

31,675

33,607

Investments

6

10,000

10,000

 

51,438

56,337

Current assets

 

Debtors

7

15,892

10,604

Cash at bank and in hand

 

240,416

514,474

 

256,308

525,078

Creditors: Amounts falling due within one year

8

(241,719)

(277,214)

Net current assets

 

14,589

247,864

Total assets less current liabilities

 

66,027

304,201

Creditors: Amounts falling due after more than one year

8

(5,031)

(15,031)

Net assets

 

60,996

289,170

Capital and reserves

 

Called up share capital

10

3

3

Profit and loss account

60,993

289,167

Shareholders' funds

 

60,996

289,170

 

The Clear Health Group Ltd

Balance Sheet

31 July 2024

For the financial year ending 31 July 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 February 2025 and signed on its behalf by:
 

.........................................
Mr W Parkhurst
Director

Company Registration Number: 10870527

 

The Clear Health Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Floor 1, Wilson House
2 Lorne Park Road
Bournemouth
Dorset
BH1 1JN
England

These financial statements were authorised for issue by the Board on 5 February 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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

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 corporation 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.

 

The Clear Health Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 July 2024

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

Office equipment

25% on a reduced balance basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website Build

5 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

The Clear Health Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 July 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2023 - 15).

 

The Clear Health Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 July 2024

4

Intangible assets

Website
 £

Total
£

Cost or valuation

At 1 August 2023

15,913

15,913

Additions acquired separately

270

270

At 31 July 2024

16,183

16,183

Amortisation

At 1 August 2023

3,183

3,183

Amortisation charge

3,237

3,237

At 31 July 2024

6,420

6,420

Carrying amount

At 31 July 2024

9,763

9,763

At 31 July 2023

12,730

12,730

5

Tangible assets

Office Equipment
 £

Total
£

Cost or valuation

At 1 August 2023

54,369

54,369

Additions

8,626

8,626

At 31 July 2024

62,995

62,995

Depreciation

At 1 August 2023

20,762

20,762

Charge for the year

10,558

10,558

At 31 July 2024

31,320

31,320

Carrying amount

At 31 July 2024

31,675

31,675

At 31 July 2023

33,607

33,607

 

The Clear Health Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 July 2024

6

Investments

2024
£

2023
£

Other investments

10,000

10,000

7

Debtors

2024
£

2023
£

Other debtors

15,892

10,604

15,892

10,604

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

10,000

Trade creditors

 

9,050

22,991

Taxation and social security

 

216,164

238,392

Accruals and deferred income

 

5,000

4,500

Other creditors

 

1,505

1,331

 

241,719

277,214

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,031

15,031

 

The Clear Health Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 July 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

2024
£

2023
£

Loans and borrowings due after one year

Bank borrowings

5,031

15,031

Bank borrowings

Included in the loans and borrowings are the following amounts due after more than five years:

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

3 Ordinary Shares of £1 each of £1 each

3

3

3

3