REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
CLEARSERVE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
CLEARSERVE LIMITED |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CLEARSERVE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTORS: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 High Street |
Stanford le Hope |
Essex |
SS17 0EY |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
BALANCE SHEET - continued |
31 MAY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Clearserve Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Clearserve Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. |
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. |
Tangible fixed assets |
Freehold land | - |
Plant and equipment | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Hire purchase |
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Operating leases |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
land | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 June 2023 |
Transfer to ownership | (102,500 | ) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Transfer to ownership | (31,983 | ) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
6. | FIXED ASSET INVESTMENTS |
Investment |
in |
subsidiary |
company |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans |
Hire purchase contracts (see note 10) |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' current accounts | 9,500 | 8,323 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans - 1-2 years |
Other loans - 2-5 years |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Non-cancellable operating | leases |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | - | 11,588 |
12. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 278,557 | 280,622 |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Credit to Income Statement during year | ( |
) |
Balance at 31 May 2024 |
The provision for deferred taxation is made up of accelerated capital allowances. |
13. | PENSION COMMITMENTS |
The company operates two defined contribution pension schemes, for the directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date there were £1,117 unpaid contributions (2023: £1,842). |
CLEARSERVE LIMITED (REGISTERED NUMBER: 03058118) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
14. | CAPITAL COMMITMENTS |
2024 | 2023 |
£ | £ |
Contracted but not provided for in the |
financial statements |
15. | RELATED PARTY DISCLOSURES |
Included in creditors that are due within one year are: |
Amount due to a company in which a director, holds an interest: £88,137 (2023: £88,137). This is an interest free loan repayable on demand. |
Amount owing to directors was £9,500 (2023: £8,323). |
Amount owing to a director in relation to a loan £140,223 (2023: £nil). This is being repaid monthly. |