IRIS Accounts Production v24.3.2.46 05685709 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056857092023-05-31056857092024-05-31056857092023-06-012024-05-31056857092022-05-31056857092022-06-012023-05-31056857092023-05-3105685709ns15:EnglandWales2023-06-012024-05-3105685709ns14:PoundSterling2023-06-012024-05-3105685709ns10:Director12023-06-012024-05-3105685709ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3105685709ns10:SmallEntities2023-06-012024-05-3105685709ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3105685709ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3105685709ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3105685709ns10:FullAccounts2023-06-012024-05-3105685709ns10:Director22023-06-012024-05-3105685709ns10:CompanySecretary12023-06-012024-05-3105685709ns10:RegisteredOffice2023-06-012024-05-3105685709ns5:CurrentFinancialInstruments2024-05-3105685709ns5:CurrentFinancialInstruments2023-05-3105685709ns5:Non-currentFinancialInstruments2024-05-3105685709ns5:Non-currentFinancialInstruments2023-05-3105685709ns5:ShareCapital2024-05-3105685709ns5:ShareCapital2023-05-3105685709ns5:RevaluationReserve2024-05-3105685709ns5:RevaluationReserve2023-05-3105685709ns5:RetainedEarningsAccumulatedLosses2024-05-3105685709ns5:RetainedEarningsAccumulatedLosses2023-05-3105685709ns5:LandBuildings2023-05-3105685709ns5:PlantMachinery2023-05-3105685709ns5:ComputerEquipment2023-05-3105685709ns5:LandBuildings2023-06-012024-05-3105685709ns5:PlantMachinery2023-06-012024-05-3105685709ns5:ComputerEquipment2023-06-012024-05-3105685709ns5:LandBuildings2024-05-3105685709ns5:PlantMachinery2024-05-3105685709ns5:ComputerEquipment2024-05-3105685709ns5:LandBuildings2023-05-3105685709ns5:PlantMachinery2023-05-3105685709ns5:ComputerEquipment2023-05-3105685709ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3105685709ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3105685709ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-05-3105685709ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-05-3105685709ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3105685709ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3105685709ns5:WithinOneYearns5:HirePurchaseContracts2024-05-3105685709ns5:WithinOneYearns5:HirePurchaseContracts2023-05-3105685709ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-05-3105685709ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-05-3105685709ns5:HirePurchaseContracts2024-05-3105685709ns5:HirePurchaseContracts2023-05-3105685709ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-05-3105685709ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-05-3105685709ns5:WithinOneYear2024-05-3105685709ns5:WithinOneYear2023-05-3105685709ns5:BetweenOneFiveYears2024-05-3105685709ns5:BetweenOneFiveYears2023-05-3105685709ns5:AllPeriods2024-05-3105685709ns5:AllPeriods2023-05-3105685709ns5:DeferredTaxation2023-05-3105685709ns5:DeferredTaxation2023-06-012024-05-3105685709ns5:DeferredTaxation2024-05-3105685709ns5:RevaluationReserve2023-05-31
REGISTERED NUMBER: 05685709 (England and Wales)















Financial Statements

for the Year Ended 31 May 2024

for

Clear Stream Technology Ltd

Clear Stream Technology Ltd (Registered number: 05685709)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Clear Stream Technology Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P Webb
S C Bevan





SECRETARY: S C Bevan





REGISTERED OFFICE: Clearstream Centre
Station Road
Church Village
Rhondda Cynon Taff
Wales
CF38 1AF





REGISTERED NUMBER: 05685709 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

Clear Stream Technology Ltd (Registered number: 05685709)

Statement of Financial Position
31 May 2024

31/5/24 31/5/23
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,338,814 1,426,439

CURRENT ASSETS
Stocks - 1,909
Debtors 6 140,847 57,596
Cash at bank 65,317 145,596
206,164 205,101
CREDITORS
Amounts falling due within one year 7 (1,095,545 ) (1,042,124 )
NET CURRENT LIABILITIES (889,381 ) (837,023 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

449,433

589,416

CREDITORS
Amounts falling due after more than one
year

8

(429,980

)

(388,983

)

PROVISIONS FOR LIABILITIES 11 (681 ) (36,920 )
NET ASSETS 18,772 163,513

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Revaluation reserve 12 94,235 77,142
Retained earnings (125,463 ) 36,371
SHAREHOLDERS' FUNDS 18,772 163,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Clear Stream Technology Ltd (Registered number: 05685709)

Statement of Financial Position - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





P Webb - Director


Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Clear Stream Technology Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company balance sheet is currently showing a net current liabilities position. The financial statements have been prepared on a going concern basis on the basis that the directors have considered the most recent management accounts and forecasts and are confident that the company will continue to be able to settle its liabilities as they fall due.

Changes in accounting policies
During the year the company decided to adopt the revaluation model for the valuation of freehold land and buildings, previously valued under the historic model. The new policy was adopted in order to present a more accurate value of the assets held at the balance sheet date.

Adopting the new accounting policy resulted in a prior year gain of £77,142 being recognised in the revaluation reserve and a further gain of £17,093 being recognised in the current year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Fixed assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimate residual value on a straight line basis over its expected useful life, as follows:-

Freehold land is not depreciated
Freehold property - 2.5% on cost
Plant and machinery - 33% on cost and 10% on cost
Computer equipment - 33% on cost

Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life.

Revaluation of properties
Properties whose fair value can be measured reliably are held under the revaluation model and carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity, such gains and loss are recognised in profit or loss.

Impairment of fixed assets
Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. Impairment losses are recognised in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
Cost or valuation
At 1 June 2023 1,256,959 988,261 830,340 3,075,560
Additions 18,460 22,745 34,820 76,025
Disposals - (32,926 ) - (32,926 )
Revaluations 29,745 - - 29,745
At 31 May 2024 1,305,164 978,080 865,160 3,148,404
Depreciation
At 1 June 2023 526,959 367,451 754,711 1,649,121
Charge for year 15,553 86,297 47,888 149,738
Eliminated on disposal - (1,921 ) - (1,921 )
Revaluation adjustments 12,652 - - 12,652
At 31 May 2024 555,164 451,827 802,599 1,809,590
Net book value
At 31 May 2024 750,000 526,253 62,561 1,338,814
At 31 May 2023 730,000 620,810 75,629 1,426,439

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31/05/2431/05/23
££

Cost1,142,5911,124,131

Aggregate depreciation486,826471,273

Freehold land and buildings were valued on an open market basis on 31 May 2024 by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
as restated
£    £   
Trade debtors 45,287 57,596
Other debtors 95,560 -
140,847 57,596

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
as restated
£    £   
Bank loans and overdrafts (see note 9) 22,943 32,317
Hire purchase contracts (see note 10) 81,593 117,632
Trade creditors 417,174 313,229
Amounts owed to group undertakings 200,027 200,027
Taxation and social security 37,602 83,007
Other creditors 336,206 295,912
1,095,545 1,042,124

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
as restated
£    £   
Bank loans (see note 9) 158,590 197,358
Hire purchase contracts (see note 10) 11,199 92,792
Other creditors 260,191 98,833
429,980 388,983

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 58,363 79,254

9. LOANS

An analysis of the maturity of loans is given below:

31/5/24 31/5/23
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 22,943 32,317
Other loans 63,211 62,655
86,154 94,972

Amounts falling due between one and two years:
Bank loans - 1-2 years 23,759 33,363
Other loans - 1-2 years 72,580 68,465
96,339 101,828

Amounts falling due between two and five years:
Bank loans - 2-5 years 76,468 84,741
Other loans - 2-5 years 187,611 30,368
264,079 115,109

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. LOANS - continued
31/5/24 31/5/23
as restated
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 58,363 79,254

Bank loans are secured by a charge over the company freehold property together with a floating charge over other assets of the company.

Other loans are secured by a debenture on the parent undertaking and a secondary charge over the assets of the company, excluding the property.

Hire purchase and finance leases are secured over the asset concerned.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/5/24 31/5/23
as restated
£    £   
Gross obligations repayable:
Within one year 86,895 134,339
Between one and five years 11,543 98,438
98,438 232,777

Finance charges repayable:
Within one year 5,302 16,707
Between one and five years 344 5,646
5,646 22,353

Net obligations repayable:
Within one year 81,593 117,632
Between one and five years 11,199 92,792
92,792 210,424

Non-cancellable operating leases
31/5/24 31/5/23
as restated
£    £   
Within one year 26,778 20,839
Between one and five years 41,036 5,006
67,814 25,845

Clear Stream Technology Ltd (Registered number: 05685709)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

11. PROVISIONS FOR LIABILITIES
31/5/24 31/5/23
as restated
£    £   
Deferred tax 681 36,920

Deferred
tax
£   
Balance at 1 June 2023 36,920
Utilised during year (36,239 )
Balance at 31 May 2024 681

12. RESERVES
Revaluation
reserve
£   
At 1 June 2023 77,142
Property revaluation 17,093

At 31 May 2024 94,235

13. ULTIMATE CONTROLLING PARTY

The company is wholly owned and controlled by Clear Stream Technology Group Limited, a company registered in England and Wales and in which P Webb, director, holds a majority shareholding.