Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31truetrue2023-06-01falseNo description of principal activity88The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI624432 2023-06-01 2024-05-31 NI624432 2022-06-01 2023-05-31 NI624432 2024-05-31 NI624432 2023-05-31 NI624432 c:Director1 2023-06-01 2024-05-31 NI624432 d:OfficeEquipment 2023-06-01 2024-05-31 NI624432 d:OfficeEquipment 2024-05-31 NI624432 d:OfficeEquipment 2023-05-31 NI624432 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI624432 d:ComputerEquipment 2023-06-01 2024-05-31 NI624432 d:ComputerEquipment 2024-05-31 NI624432 d:ComputerEquipment 2023-05-31 NI624432 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI624432 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI624432 d:Goodwill 2023-06-01 2024-05-31 NI624432 d:Goodwill 2024-05-31 NI624432 d:Goodwill 2023-05-31 NI624432 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-05-31 NI624432 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-05-31 NI624432 d:CurrentFinancialInstruments 2024-05-31 NI624432 d:CurrentFinancialInstruments 2023-05-31 NI624432 d:Non-currentFinancialInstruments 2024-05-31 NI624432 d:Non-currentFinancialInstruments 2023-05-31 NI624432 d:Non-currentFinancialInstruments 6 2024-05-31 NI624432 d:Non-currentFinancialInstruments 6 2023-05-31 NI624432 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 NI624432 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 NI624432 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 NI624432 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 NI624432 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 NI624432 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 NI624432 d:ShareCapital 2024-05-31 NI624432 d:ShareCapital 2023-05-31 NI624432 d:SharePremium 2024-05-31 NI624432 d:SharePremium 2023-05-31 NI624432 d:RetainedEarningsAccumulatedLosses 2024-05-31 NI624432 d:RetainedEarningsAccumulatedLosses 2023-05-31 NI624432 c:OrdinaryShareClass1 2023-06-01 2024-05-31 NI624432 c:OrdinaryShareClass1 2024-05-31 NI624432 c:FRS102 2023-06-01 2024-05-31 NI624432 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI624432 c:FullAccounts 2023-06-01 2024-05-31 NI624432 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI624432 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 NI624432 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 NI624432 2 2023-06-01 2024-05-31 NI624432 4 2023-06-01 2024-05-31 NI624432 6 2023-06-01 2024-05-31 NI624432 d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 NI624432 d:Goodwill d:OwnedIntangibleAssets 2023-06-01 2024-05-31 NI624432 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-06-01 2024-05-31 NI624432 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI624432










Clearpool Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2024

 
Clearpool Ltd
Registered number: NI624432

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
91,428
85,008

Tangible assets
 5 
151
5,729

Investments
 6 
56
56

  
91,635
90,793

Current assets
  

Debtors: amounts falling due within one year
 7 
243,094
328,601

Cash at bank and in hand
 8 
152,147
102,011

  
395,241
430,612

Creditors: amounts falling due within one year
 9 
(192,045)
(682,873)

Net current assets/(liabilities)
  
 
 
203,196
 
 
(252,261)

Total assets less current liabilities
  
294,831
(161,468)

Creditors: amounts falling due after more than one year
 10 
(630,260)
(506,471)

  

Net liabilities
  
(335,429)
(667,939)


Capital and reserves
  

Called up share capital 
 12 
102
102

Share premium account
  
499,996
499,996

Profit and loss account
  
(835,527)
(1,168,037)

  
(335,429)
(667,939)


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Clearpool Ltd
Registered number: NI624432

Balance Sheet (continued)
As at 31 May 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 March 2025.




Jamie Allsop
Director

The notes on pages 3 to 10 form part of these financial statements.

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Page 2

 
Clearpool Ltd
 

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

1.


General information

Clearpool Ltd is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the compnay information section of these financial statements. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors of Clearpool Ltd have reviewed the appropriateness of the going concern assumption and consider that the company has sufficient resources to continue as a trading entity for the foreseeable future.

 
2.3

Revenue

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

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Page 3

 
Clearpool Ltd
 

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

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

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Page 4

 
Clearpool Ltd
 

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

2.Accounting policies (continued)

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

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Page 5

 
Clearpool Ltd
 

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

2.Accounting policies (continued)

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 6).

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Page 6

 
Clearpool Ltd
 

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

4.


Intangible assets




Trademarks
Goodwill
Total

£
£
£



Cost


At 1 June 2023
1,866
121,944
123,810


Additions
20,890
-
20,890



At 31 May 2024

22,756
121,944
144,700



Amortisation


At 1 June 2023
-
38,802
38,802


Charge for the year on owned assets
2,276
12,194
14,470



At 31 May 2024

2,276
50,996
53,272



Net book value



At 31 May 2024
20,480
70,948
91,428



At 31 May 2023
1,866
83,142
85,008



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Page 7

 
Clearpool Ltd
 

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

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 June 2023
1,512
34,163
35,675



At 31 May 2024

1,512
34,163
35,675



Depreciation


At 1 June 2023
1,494
28,451
29,945


Charge for the year on owned assets
18
5,561
5,579



At 31 May 2024

1,512
34,012
35,524



Net book value



At 31 May 2024
-
151
151



At 31 May 2023
17
5,712
5,729


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
56



At 31 May 2024
56




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Page 8

 
Clearpool Ltd
 

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

7.


Debtors

2024
2023
£
£


Trade debtors
63,007
4,500

Amounts owed by group undertakings
30
30

Other debtors
15,927
5,662

Tax recoverable
164,130
318,409

243,094
328,601



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
152,147
102,011

152,147
102,011



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Convertible Loan Note
-
500,000

Trade creditors
26,619
-

Amounts owed to group undertakings
150,000
166,280

Other creditors
690
429

Accruals and deferred income
14,736
16,164

192,045
682,873



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Related Party Loan
123,790
-

SAFE
506,470
506,471

630,260
506,471


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Page 9

 
Clearpool Ltd
 

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

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Convertible Loan Note
-
500,000


-
500,000

Amounts falling due 1-2 years

Other loans
123,790
-


123,790
-



123,790
500,000



12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



15,282,484 (2022 - 15,282,484) Ordinary shares of £0.00000667- each
101.930283
101.930283



13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund amounted to £7,550 (2022 - £7,603). Contributions totalling £1,338 (2022 - £1,707) were payable to the fund at the balance sheet date and are included in creditors.


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