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REGISTERED NUMBER: 03466459 (England and Wales)












CLARITY LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






CLARITY LIMITED (REGISTERED NUMBER: 03466459)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLARITY LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: A G G Jones
K J Jones
G J Bolton
G I G Jones
P J Collier
C Gibson





SECRETARY: K J Jones





REGISTERED OFFICE: 1 Crown Square
Woking
Surrey
GU21 6HR





REGISTERED NUMBER: 03466459 (England and Wales)





AUDITOR: Shaw Gibbs Audit Ltd
264 Banbury Road
Oxford
Oxfordshire
OX2 7DY

CLARITY LIMITED (REGISTERED NUMBER: 03466459)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 25,604 51,820
Investments 5 239,823 239,823
265,427 291,643

CURRENT ASSETS
Debtors 6 996,413 853,729
Cash at bank and in hand 3,560,107 2,847,501
4,556,520 3,701,230
CREDITORS
Amounts falling due within one year 7 (1,549,676 ) (1,080,688 )
NET CURRENT ASSETS 3,006,844 2,620,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,272,271

2,912,185

CAPITAL AND RESERVES
Called up share capital 10,985 10,985
Share premium 9 42,533 42,533
Retained earnings 9 3,218,753 2,858,667
SHAREHOLDERS' FUNDS 3,272,271 2,912,185

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2025 and were signed on its behalf by:





C Gibson - Director


CLARITY LIMITED (REGISTERED NUMBER: 03466459)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Clarity Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Income is recognised net of VAT as follows:
- Fee income is recognised in the period to which it relates.
- Investment management income is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Office equipment - Straight line over 3 years
Fixtures and fittings - Straight line over the life of the lease

The company has a policy for capitalising computer equipment costing > £1,500, anything less is expensed.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 45 ) .

CLARITY LIMITED (REGISTERED NUMBER: 03466459)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Office and
leasehold equipment fittings Totals
£    £    £    £   
COST
At 1 January 2024 139,075 40,379 44,177 223,631
Additions - 3,631 6,886 10,517
At 31 December 2024 139,075 44,010 51,063 234,148
DEPRECIATION
At 1 January 2024 109,405 27,013 35,393 171,811
Charge for year 22,910 8,553 5,270 36,733
At 31 December 2024 132,315 35,566 40,663 208,544
NET BOOK VALUE
At 31 December 2024 6,760 8,444 10,400 25,604
At 31 December 2023 29,670 13,366 8,784 51,820

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 January 2024
and 31 December 2024 239,823
NET BOOK VALUE
At 31 December 2024 239,823
At 31 December 2023 239,823

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

MDRclarity Ltd
Registered office: 1 Crown Square, Woking, Surrey, GU21 6HR
Nature of business: To introduce clients to Clarity Ltd
%
Class of shares: holding
Ordinary 51.00
2024 2023
£    £   
Aggregate capital and reserves 81,331 643,416
Profit for the year 81,314 90,141

CLARITY LIMITED (REGISTERED NUMBER: 03466459)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 246,322 106,877
Tax - 42,726
Deferred tax 28,105 23,000
Prepayments and accrued income 721,986 681,126
996,413 853,729

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,878 36,278
Amounts owed to participating interests 19,105 22,083
Tax 306,525 -
Social security and other taxes 75,100 70,994
VAT 73,375 35,507
Other creditors 114,236 85,827
Accruals and deferred income 924,457 829,999
1,549,676 1,080,688

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 44,264 66,532
Between one and five years 71,803 5,453
116,067 71,985

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2024 2,858,667 42,533 2,901,200
Profit for the year 2,272,270 2,272,270
Dividends (1,912,184 ) (1,912,184 )
At 31 December 2024 3,218,753 42,533 3,261,286

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Lance Redman (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs Audit Ltd

CLARITY LIMITED (REGISTERED NUMBER: 03466459)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

11. RELATED PARTY DISCLOSURES

The company owns 51% of MDRclarity Ltd, a joint venture which it shares with a law firm, and during the financial year under the terms of this arrangement, it received a total of £433,697 (2023: £413,183 ) which in turn it passed on to the joint venture, and has charged service fees of £325,273 (2023: £309,888). The company received dividends of £328,142 from MDRclarity Ltd during the financial year (2023: £NIL), and at the balance sheet date, the amount payable to MDRclarity Ltd was £19,105 (2023: £22,083).