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Company No: 04682770 (England and Wales)

CLEARWELL MOBILITY LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

CLEARWELL MOBILITY LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

CLEARWELL MOBILITY LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
CLEARWELL MOBILITY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
Directors D C Gillett
N Gillett
Secretary D C Gillett
Registered office Unit 3
21 Albert Drive
Burgess Hill
West Sussex
RH15 9TN
United Kingdom
Company number 04682770 (England and Wales)
Chartered accountants Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
United Kingdom
CLEARWELL MOBILITY LIMITED

BALANCE SHEET

As at 30 September 2024
CLEARWELL MOBILITY LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Intangible assets 3 20,889 45,969
Tangible assets 4 355,936 356,874
Investments 5 72,940 72,940
449,765 475,783
Current assets
Stocks 542,450 481,683
Debtors 6 403,174 362,983
Cash at bank and in hand 1,279,573 1,313,295
2,225,197 2,157,961
Creditors: amounts falling due within one year 7 ( 1,177,780) ( 1,120,923)
Net current assets 1,047,417 1,037,038
Total assets less current liabilities 1,497,182 1,512,821
Creditors: amounts falling due after more than one year 8 ( 73,298) ( 175,299)
Provision for liabilities 9 ( 88,064) ( 87,863)
Net assets 1,335,820 1,249,659
Capital and reserves
Called-up share capital 10 89,067 89,067
Share premium account 97,448 97,448
Capital redemption reserve 49,688 49,688
Profit and loss account 1,099,617 1,013,456
Total shareholders' funds 1,335,820 1,249,659

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Clearwell Mobility Limited (registered number: 04682770) were approved and authorised for issue by the Board of Directors on 25 June 2025. They were signed on its behalf by:

D C Gillett
Director
CLEARWELL MOBILITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
CLEARWELL MOBILITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clearwell Mobility Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 3, 21 Albert Drive, Burgess Hill, West Sussex, RH15 9TN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 4 - 8 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 - 8 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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 Income and Retained Earnings 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.

2. Employees

30.09.2024 30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 73 73

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 160,400 160,400
At 30 September 2024 160,400 160,400
Accumulated amortisation
At 01 October 2023 114,431 114,431
Charge for the financial year 25,080 25,080
At 30 September 2024 139,511 139,511
Net book value
At 30 September 2024 20,889 20,889
At 30 September 2023 45,969 45,969

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 October 2023 165,655 328,524 173,525 126,940 794,644
Additions 0 79,901 4,006 18,648 102,555
Disposals 0 ( 22,675) 0 0 ( 22,675)
At 30 September 2024 165,655 385,750 177,531 145,588 874,524
Accumulated depreciation
At 01 October 2023 144,000 90,791 108,179 94,800 437,770
Charge for the financial year 8,133 55,849 12,903 15,175 92,060
Disposals 0 ( 11,242) 0 0 ( 11,242)
At 30 September 2024 152,133 135,398 121,082 109,975 518,588
Net book value
At 30 September 2024 13,522 250,352 56,449 35,613 355,936
At 30 September 2023 21,655 237,733 65,346 32,140 356,874
Leased assets included above:
Net book value
At 30 September 2024 0 154,857 0 0 154,857
At 30 September 2023 0 192,636 0 0 192,636

5. Fixed asset investments

Investments in subsidiaries

30.09.2024
£
Cost
At 01 October 2023 72,940
At 30 September 2024 72,940
Carrying value at 30 September 2024 72,940
Carrying value at 30 September 2023 72,940

6. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 72,008 57,128
Amounts owed by Group undertakings 35,791 5,060
Prepayments 164,185 149,070
VAT recoverable 95,760 65,186
Corporation tax 14,740 0
Other debtors 20,690 86,539
403,174 362,983

7. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Bank loans 65,727 62,500
Trade creditors 701,527 745,977
Accruals 48,625 108,303
Corporation tax 88,831 88,616
Other taxation and social security 27,891 23,055
Obligations under finance leases and hire purchase contracts 60,311 63,358
Other creditors 184,868 29,114
1,177,780 1,120,923

8. Creditors: amounts falling due after more than one year

30.09.2024 30.09.2023
£ £
Bank loans 34,073 99,800
Obligations under finance leases and hire purchase contracts 39,225 75,499
73,298 175,299

9. Deferred tax

30.09.2024 30.09.2023
£ £
At the beginning of financial year ( 87,863) ( 72,406)
Charged to the Statement of Income and Retained Earnings ( 201) ( 15,457)
At the end of financial year ( 88,064) ( 87,863)

10. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
71,253 Ordinary A shares of £ 1.00 each 71,253 71,253
17,814 Ordinary B shares of £ 1.00 each 17,814 17,814
89,067 89,067

Both classes of share rank pari passu in all respects, expect for different dividend rights.

11. Financial commitments

Other financial commitments

30.09.2024 30.09.2023
£ £
Commitments under operating leases not later than 1 year 369,753 435,220
Commitments under operating leases later than 1 year and not later than 5 years 928,542 541,595
1,298,295 976,815

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

30.09.2024 30.09.2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 7,020 4,709