Company registration number 07469792 (England and Wales)
CLEARWAY TRAFFIC SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CLEARWAY TRAFFIC SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CLEARWAY TRAFFIC SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,182
19,173
Current assets
Debtors
4
618,520
418,144
Cash at bank and in hand
112,459
486,687
730,979
904,831
Creditors: amounts falling due within one year
5
(281,254)
(395,051)
Net current assets
449,725
509,780
Total assets less current liabilities
467,907
528,953
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
467,807
528,853
Total equity
467,907
528,953
The directors of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CLEARWAY TRAFFIC SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 June 2025 and are signed on its behalf by:
Mr D J Gibbins
Mr J A Mason
Director
Director
Company Registration No. 07469792
CLEARWAY TRAFFIC SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Clearway Traffic Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Medway Bridge House, 1 - 8 Fairmeadow, Maidstone, Kent, ME14 1JP. The principal place of business is 39 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4ER.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover includes revenue earned under a wide variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in other debtors.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets over their useful lives on the following bases:
Fixtures, fittings & equipment
15% reducing balance basis and 33% on cost
Motor vehicles
25% reducing balance basis
1.4
Financial instruments
The company has elected to apply the recognition and measurement provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
1.5
Taxation
The tax expense represents the sum of the tax currently payable or receivable and deferred tax.
CLEARWAY TRAFFIC SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leasing and hire purchase commitments
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
6
CLEARWAY TRAFFIC SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
89,967
Additions
8,112
Disposals
(12,369)
At 31 December 2024
85,710
Depreciation and impairment
At 1 January 2024
70,794
Depreciation charged in the year
8,303
Eliminated in respect of disposals
(11,569)
At 31 December 2024
67,528
Carrying amount
At 31 December 2024
18,182
At 31 December 2023
19,173
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
211,090
362,502
Amounts due from group undertakings
246,705
Other debtors
153,425
47,842
611,220
410,344
Deferred tax asset
7,300
7,800
618,520
418,144
The company is party to a factoring agreement with HSBC Invoice Finance (UK) Limited. Trade debtors represents gross debts of £308,969 (2023 - £362,502) less non returnable proceeds of £97,879 (2023 - £nil). The company is not required to support bad debts in respect of factored debts and HSBC Invoice Finance (UK) Limited have stated in writing that they will not seek recourse other than out of factored debts.
CLEARWAY TRAFFIC SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
185,884
6,507
Amounts due to group undertakings
31,198
Taxation and social security
81,594
297,741
Other creditors
13,776
59,605
281,254
395,051
6
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Total commitments
28,897
9,545