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Registered number: 10890861
Clear Fr8 Limited
Financial Statements
For The Year Ended 31 July 2024
Devonports LAS Accountants Ltd
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10890861
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 59,803 72,296
59,803 72,296
CURRENT ASSETS
Debtors 5 1,172,192 837,344
Cash at bank and in hand 369,405 446,770
1,541,597 1,284,114
Creditors: Amounts Falling Due Within One Year 6 (906,167 ) (652,014 )
NET CURRENT ASSETS (LIABILITIES) 635,430 632,100
TOTAL ASSETS LESS CURRENT LIABILITIES 695,233 704,396
Creditors: Amounts Falling Due After More Than One Year 7 - (50,370 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,541 ) (12,866 )
NET ASSETS 682,692 641,160
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 682,592 641,060
SHAREHOLDERS' FUNDS 682,692 641,160
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S A Horton
Director
20/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Clear Fr8 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10890861 . The registered office is Hammond House, Limekiln Street, Dover, Kent, CT17 9EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10%
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 33% Straight Line & 15% Reducing Balance
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the 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.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 25)
23 25
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4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2023 9,635 56,330 54,206 120,171
Additions - - 3,320 3,320
Disposals - - (233 ) (233 )
As at 31 July 2024 9,635 56,330 57,293 123,258
Depreciation
As at 1 August 2023 - 14,083 33,792 47,875
Provided during the period - 10,561 5,054 15,615
Disposals - - (35 ) (35 )
As at 31 July 2024 - 24,644 38,811 63,455
Net Book Value
As at 31 July 2024 9,635 31,686 18,482 59,803
As at 1 August 2023 9,635 42,247 20,414 72,296
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 485,422 681,895
Amounts owed by group undertakings 560,452 45,110
Other debtors 126,318 110,339
1,172,192 837,344
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 4,656
Trade creditors 315,913 267,369
Bank loans and overdrafts - 10,000
Amounts owed to group undertakings 359,639 194,026
Other creditors 121,032 79,003
Taxation and social security 109,583 96,960
906,167 652,014
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 31,373
Bank loans - 18,997
- 50,370
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 4,656
Later than one year and not later than five years - 31,373
- 36,029
- 36,029
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
As at the balance sheet date the company owed Clear Port Holdings Limited £359,639 (2023: £194,026).
During the year services were paid to Clear Fr8 (Manchester) Limited, Bunch and Lunch Limited, Clear fr8 (Midlands) Limited and Clear Fr8 Properties,which are associated companies. As at the balance sheet date Clear Fr8 (Manchester) Limited was owed £0 (2023: £45,110), and Clear Fr8 Properties £530,452, Bunch and Lunch £30,00.00, these amounts have been included within other debtors.
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