IRIS Accounts Production v25.1.0.734 10462199 Board of Directors 1.12.23 30.11.24 30.11.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh104621992023-11-30104621992024-11-30104621992023-12-012024-11-30104621992022-11-30104621992022-12-012023-11-30104621992023-11-3010462199ns15:EnglandWales2023-12-012024-11-3010462199ns14:PoundSterling2023-12-012024-11-3010462199ns10:Director12023-12-012024-11-3010462199ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3010462199ns10:SmallEntities2023-12-012024-11-3010462199ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3010462199ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3010462199ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3010462199ns10:FullAccounts2023-12-012024-11-301046219912023-12-012024-11-3010462199ns10:OrdinaryShareClass12023-12-012024-11-3010462199ns10:Director22023-12-012024-11-3010462199ns10:RegisteredOffice2023-12-012024-11-3010462199ns5:CurrentFinancialInstruments2024-11-3010462199ns5:CurrentFinancialInstruments2023-11-3010462199ns5:Non-currentFinancialInstruments2024-11-3010462199ns5:Non-currentFinancialInstruments2023-11-3010462199ns5:ShareCapital2024-11-3010462199ns5:ShareCapital2023-11-3010462199ns5:RetainedEarningsAccumulatedLosses2024-11-3010462199ns5:RetainedEarningsAccumulatedLosses2023-11-3010462199ns5:NetGoodwill2023-12-012024-11-3010462199ns5:NetGoodwill2023-11-3010462199ns5:NetGoodwill2024-11-3010462199ns5:NetGoodwill2023-11-3010462199ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-3010462199ns5:FurnitureFittings2023-11-3010462199ns5:ComputerEquipment2023-11-3010462199ns5:LandBuildingsns5:ShortLeaseholdAssets2023-12-012024-11-3010462199ns5:FurnitureFittings2023-12-012024-11-3010462199ns5:ComputerEquipment2023-12-012024-11-3010462199ns5:LandBuildingsns5:ShortLeaseholdAssets2024-11-3010462199ns5:FurnitureFittings2024-11-3010462199ns5:ComputerEquipment2024-11-3010462199ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-3010462199ns5:FurnitureFittings2023-11-3010462199ns5:ComputerEquipment2023-11-3010462199ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3010462199ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3010462199ns10:OrdinaryShareClass12024-11-30
REGISTERED NUMBER: 10462199 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

CLEARWATER SOLICITORS LIMITED

CLEARWATER SOLICITORS LIMITED (REGISTERED NUMBER: 10462199)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLEARWATER SOLICITORS LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2024







DIRECTORS: M M Yaqub
A Fardous





REGISTERED OFFICE: 119 - 121 Colne Road
Burnley
Lancashire
BB10 1LN





REGISTERED NUMBER: 10462199 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

CLEARWATER SOLICITORS LIMITED (REGISTERED NUMBER: 10462199)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 58,215 81,501
Tangible assets 5 23,068 26,251
81,283 107,752

CURRENT ASSETS
Debtors 6 425,727 453,027
Cash at bank 202,834 350,021
628,561 803,048
CREDITORS
Amounts falling due within one year 7 696,745 720,511
NET CURRENT (LIABILITIES)/ASSETS (68,184 ) 82,537
TOTAL ASSETS LESS CURRENT LIABILITIES 13,099 190,289

CREDITORS
Amounts falling due after more than one year 8 (29,292 ) (94,066 )

PROVISIONS FOR LIABILITIES (2,106 ) (2,219 )
NET (LIABILITIES)/ASSETS (18,299 ) 94,004

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (18,301 ) 94,002
SHAREHOLDERS' FUNDS (18,299 ) 94,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CLEARWATER SOLICITORS LIMITED (REGISTERED NUMBER: 10462199)

BALANCE SHEET - continued
30 November 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





M M Yaqub - Director


CLEARWATER SOLICITORS LIMITED (REGISTERED NUMBER: 10462199)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

Clearwater Solicitors Limited is a private company, limited by shares, registered in England and Wales, registration number 10462199. The address of the registered office and principal place of business is Clearwater House, 119-121 Colne Road, Burnley, BB10 1LN.

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
Turnover represents amounts recognised by the company in respect of services provided, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the provision of legal services, which is recognised at the point of which the services are provided.

Government grants
Government revenue grants are recognised in the profit and loss account over the period in which the related costs are recognised.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets are charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Short leasehold-10% on cost
Fixtures and fittings-20% on cost
Computer equipment-25% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.


CLEARWATER SOLICITORS LIMITED (REGISTERED NUMBER: 10462199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024


2. ACCOUNTING POLICIES - continued
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 makes contributions to a pension scheme on behalf of the director and employees. Contributions payable to the scheme are charged to profit or loss in the period to which they relate.

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.

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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 232,860
AMORTISATION
At 1 December 2023 151,359
Charge for year 23,286
At 30 November 2024 174,645
NET BOOK VALUE
At 30 November 2024 58,215
At 30 November 2023 81,501

CLEARWATER SOLICITORS LIMITED (REGISTERED NUMBER: 10462199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 December 2023 31,586 1,226 14,754 47,566
Additions - 1,656 1,275 2,931
Disposals - (80 ) (6,691 ) (6,771 )
At 30 November 2024 31,586 2,802 9,338 43,726
DEPRECIATION
At 1 December 2023 11,353 1,226 8,736 21,315
Charge for year 3,159 332 2,334 5,825
Eliminated on disposal - (80 ) (6,402 ) (6,482 )
At 30 November 2024 14,512 1,478 4,668 20,658
NET BOOK VALUE
At 30 November 2024 17,074 1,324 4,670 23,068
At 30 November 2023 20,233 - 6,018 26,251

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 374,075 403,766
Other debtors 51,652 49,261
425,727 453,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 64,772 60,124
Trade creditors 5,288 1,271
Taxation and social security 102,057 149,292
Other creditors 524,628 509,824
696,745 720,511

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,292 94,066

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1.00 2 2

CLEARWATER SOLICITORS LIMITED (REGISTERED NUMBER: 10462199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024


10. OTHER FINANCIAL COMMITMENTS

At the year end the total operating lease commitments that are not shown on the balance sheet were £58,317 (2023 - £53,994).

11. RELATED PARTY DISCLOSURES

During the year, dividends of £120,000 (2023 - £120,000) were paid to the directors.

Included in creditors is an amount owed to the directors of £27,464 (2023 - £11,291). This balance relates to an interest free loan repayable on demand.

Included in debtors is a balance of £14,431 (2023 - £14,431) owed from a company under common control. During the year rent was paid to this company amounting to £5,400 (2023 - £5,400).

During the year the company paid rent of £18,000 (2023 - £13,500) to the director M M Yaqub.