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Registration number: 01454797

Clip International Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2024

Clip International Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 8

Clip International Limited

(Registration number: 01454797)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Investments | 4 | 68,565 | 68,565
Current assets |  |  |
Debtors | 5 | 98,003 | 245,142
Cash at bank and in hand |  | 156,201 | 53,317
|  | 254,204 | 298,459
Creditors: Amounts falling due within one year | 6 | (224,484) | (255,151)
Net current assets |  | 29,720 | 43,308
Net assets |  | 98,285 | 111,873
Capital and reserves |  |  |
Called up share capital | 8 | 5,715 | 5,715
Share premium reserve |  | 11,125 | 11,125
Capital redemption reserve |  | 5,000 | 5,000
Other reserves |  | 84,150 | 84,150
Retained earnings |  | (7,705) | 5,883
Shareholders' funds |  | 98,285 | 111,873

Clip International Limited

(Registration number: 01454797)
Balance Sheet as at 31 December 2024

For the financial 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.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 June 2025 and signed on its behalf by:

G D Barrett Director |  |

Clip International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Clip Limited
Church Road
Wick
Bristol
BS30 5RD

These financial statements were authorised for issue by the Board on 16 June 2025.

2 | Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The company is exempt from the requirement to produce consolidated accounts on the basis that it qualifies as a group that is small.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company’s subsidiaries continued to deliver consistent and reliable revenues and profits from its core events industry markets. Given this, the directors have full confidence that the ongoing receipts of management charges are sufficient to meet the company’s obligations for the foreseeable future. Accordingly, they have prepared the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Clip International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Government grants

Government grants are recognised as income over the periods necessary to match them with the related costs for which they are intended as compensation.

Tax

Tax is recognised in profit and 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 substatively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Clip International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2023 - 3).

Clip International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4 | Investments

| 2024 £ | 2023 £
Investments in subsidiaries | 68,565 | 68,565

Subsidiaries | £
Cost
At 1 January 2024 | 68,565
Carrying amount
At 31 December 2024 | 68,565
At 31 December 2023 | 68,565

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2024 | 2023
Subsidiary undertakings
Clip Limited | Church Road, Wick, Bristol, BS30 5RD |
Ordinary
99.99%
99.99%
Clip GmbH | Werftstrabe 25, 40549 Dusseldorf, Germany |
Ordinary
100%
100%

Subsidiary undertakings
Clip Limited The principal activity of Clip Limited is Manufacture and sale of modular display equipment.
Clip GmbH The principal activity of Clip GmbH is Manufacture and sale of modular display equipment.

Clip International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5 | Debtors

| Note | 2024 £ | 2023 £
Amounts owed by related parties | 10 | 42,366 | -
Other debtors |  | - | 240,000
Prepayments |  | 9,637 | 5,142
Accrued income |  | 46,000 | -
|  | 98,003 | 245,142

6 | Creditors

Due within one year | Note | 2024 £ | 2023 £
Amounts due to related parties | 10 | 209,169 | 242,384
Social security and other taxes |  | 8,319 | 8,271
Accruals |  | 6,996 | 4,496
|  | 224,484 | 255,151

The company bankers have a fixed and floating charge over the company and its subsidiaries' assets both present and future dated 21 November 2005.

7 | Contingent liabilities

There is an intercompany bank guarantee between the company and Clip Limited, a subsidiary company. At the reporting date the contingent liability to Clip International Limited in respect of this guarantee amounted to £112,618 (2023 - £192,113).

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 5,715 | 5,715 | 5,715 | 5,715

Clip International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £12,886 (2023 - £25,772).

10 | Related party transactions

The company has taken advantage of the exemption available in FRS 102 whereby it has not disclosed transactions or balances with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

Loans to related parties

2024 | Key management £ | Total £
At start of period | 240,000 | 240,000
Repaid | (240,000) | (240,000)
At end of period | - | -

2023 | Key management £ | Total £
Advanced | 240,000 | 240,000
At end of period | 240,000 | 240,000

Terms of loans to related parties

During the prior year, the company advanced a loan to a director. The loan was interest free and repayable on demand. This has since been fully repaid.