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Registered number: 12568155
Clerkenwell Clinics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12568155
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,387 34,669
Tangible Assets 5 250,014 82,707
280,401 117,376
CURRENT ASSETS
Stocks 6 42,024 -
Debtors 7 539,816 221,940
Cash at bank and in hand 206,919 75,898
788,759 297,838
Creditors: Amounts Falling Due Within One Year 8 (950,105 ) (1,213,757 )
NET CURRENT ASSETS (LIABILITIES) (161,346 ) (915,919 )
TOTAL ASSETS LESS CURRENT LIABILITIES 119,055 (798,543 )
NET ASSETS/(LIABILITIES) 119,055 (798,543 )
CAPITAL AND RESERVES
Called up share capital 9 98 84
Share premium account 4,317,226 2,459,861
Profit and Loss Account (4,198,269 ) (3,258,488 )
SHAREHOLDERS' FUNDS 119,055 (798,543)
Page 1
Page 2
For the year ending 31 December 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 Lewis
Director
1st May 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Clerkenwell Clinics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12568155 . The registered office is 39 Welbeck Stree, London, W1G 8DR.
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.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software development It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. 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:
Plant & Machinery 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.5. Leasing and Hire Purchase Contracts
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.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
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.
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.
...CONTINUED
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2.7. Financial Instruments - continued
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements or a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
2.8. 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.
2.9. 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 32 (2023: 20)
32 20
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 42,820
As at 31 December 2024 42,820
Amortisation
As at 1 January 2024 8,151
Provided during the period 4,282
As at 31 December 2024 12,433
Net Book Value
As at 31 December 2024 30,387
As at 1 January 2024 34,669
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Page 5
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 101,090 21,483 27,404 149,977
Additions 150,687 41,004 26,265 217,956
Disposals - (294 ) - (294 )
As at 31 December 2024 251,777 62,193 53,669 367,639
Depreciation
As at 1 January 2024 50,114 6,805 10,351 67,270
Provided during the period 32,855 8,632 9,003 50,490
Disposals - (135 ) - (135 )
As at 31 December 2024 82,969 15,302 19,354 117,625
Net Book Value
As at 31 December 2024 168,808 46,891 34,315 250,014
As at 1 January 2024 50,976 14,678 17,053 82,707
6. Stocks
2024 2023
£ £
Work in progress 42,024 -
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 382,659 117,511
Prepayments and accrued income 68,554 47,962
Other debtors 68,147 35,056
VAT 20,456 21,411
539,816 221,940
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 132,457 134,200
Corporation tax - (31,938 )
Other taxes and social security 87,451 199,957
Net wages - 2,374
Other creditors 675,000 771,397
Pensions payable 7,208 4,556
Accruals and deferred income 47,989 60,623
Amounts owed to group undertakings - 72,588
950,105 1,213,757
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Page 6
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
686,040 Ordinary Shares of £ 0.0001 each 69 69
293,380 SEED shares of £ 0.0001 each 29 15
98 84
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