2024-04-012025-03-312025-03-31false09436038CLEARNORTH 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CLEARNORTH LTD

(formerly CLEARNORTH RECRUITMENT LTD)

Registered Number
09436038
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

CLEARNORTH LTD
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

DHILLON, Carrie Anne
DHILLON, Dalvinder

Registered Address

Seamill Suite Fleswick Court
Westlakes Science & Technology Park Moor Row
Whitehaven
CA24 3HZ

Registered Number

09436038 (England and Wales)
CLEARNORTH LTD
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets338,67341,095
38,67341,095
Current assets
Stocks44,33012,227
Debtors5329,042191,774
Cash at bank and on hand70,44549,319
403,817253,320
Creditors amounts falling due within one year6(248,918)(148,650)
Net current assets (liabilities)154,899104,670
Total assets less current liabilities193,572145,765
Creditors amounts falling due after one year7(10,748)(46,399)
Provisions for liabilities9(6,869)(7,806)
Net assets175,95591,560
Capital and reserves
Called up share capital100100
Profit and loss account175,85591,460
Shareholders' funds175,95591,560
The financial statements were approved and authorised for issue by the Board of Directors on 1 August 2025, and are signed on its behalf by:
DHILLON, Dalvinder
Director
Registered Company No. 09436038
CLEARNORTH LTD
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles10-
Office Equipment-5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year1011
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 April 2439,98610,87450,860
Additions-2,5712,571
At 31 March 2539,98613,44553,431
Depreciation and impairment
At 01 April 244,0005,7659,765
Charge for year3,5981,3954,993
At 31 March 257,5987,16014,758
Net book value
At 31 March 2532,3886,28538,673
At 31 March 2435,9865,10941,095
4.Stocks

2025

2024

££
Work in progress4,33012,227
Total4,33012,227
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables300,549172,090
Other debtors23,81114,459
Prepayments and accrued income4,6825,225
Total329,042191,774
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables6,51515,888
Bank borrowings and overdrafts9,9159,915
Taxation and social security202,19783,739
Finance lease and HP contracts25,1806,584
Other creditors2,28630,215
Accrued liabilities and deferred income2,8252,309
Total248,918148,650
7.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts10,74821,229
Other creditors-25,170
Total10,74846,399
Finance Lease and Hire Purchase contracts amounting to £nil (2024 - £25,170) are included within other creditors.
8.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts25,18031,754
9.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)6,8697,806
Total6,8697,806
10.Events after reporting date
On 2 April 2025 the ownership of the company changed to Clearnorth Group Limited, who is now 100% shareholder. Clearnorth Group Limited is owned and controlled by the directors of Clearnorth Ltd.