REGISTERED NUMBER: 08283545 (England and Wales)

MDRCLARITY LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G J Bolton

A G G Jones

J V Packer

N Kewell

M Tilley

SECRETARY:

K J Jones

REGISTERED OFFICE:

1 Crown Square

Woking

Surrey

GU21 6HR

REGISTERED NUMBER:

08283545 (England and Wales)

AUDITOR:

Shaw Gibbs Audit Ltd

264 Banbury Road

Oxford

Oxfordshire

OX2 7DY

CURRENT ASSETS

Debtors

5

19,105

36,925

Cash at bank

91,301

635,677

110,406

672,602

CREDITORS

Amounts falling due within one year

6

(29,075

)

(29,086

)

NET CURRENT ASSETS

81,331

643,516

TOTAL ASSETS LESS CURRENT LIABILITIES

81,331

643,516

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

81,231

643,416

SHAREHOLDERS' FUNDS

81,331

643,516

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 4 September 2025 and were signed on its behalf by:

G J Bolton - Director

1.	STATUTORY INFORMATION

MDRclarity 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

Turnover represents net invoiced charges of all revenue receivable by clarity Ltd from clients who have been introduced by MDRclarity Ltd to Clarity Ltd with whom Clarity Ltd has engaged in Regulated Business, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The Intangible asset represents the amount paid in June 2013, to acquire the income stream from the regulated IFA business of Taylor Vinters LLP. This is being amortised evenly over a period of eight years as this represents the period of time over which the contracts transferred are expected to produce revenues.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Intangibles

£

COST

At 1 January 2024

and 31 December 2024

470,240

AMORTISATION

At 1 January 2024

and 31 December 2024

470,240

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by participating interests

19,105

22,083

Accrued income

-

14,842

19,105

36,925

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Tax

27,105

27,621

Accrued expenses

1,970

1,465

29,075

29,086

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2024

643,416

Profit for the year

81,314

Dividends

(643,499

)

At 31 December 2024

81,231

9.	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

10.	RELATED PARTY DISCLOSURES

The company is a joint venture owned by Clarity Ltd, which holds 51% of the shares, and Mishcon de Reya LLP, which holds 49%. During the financial year under the terms of this arrangement, the company received a total of £433,697 (2023: £413,183) and was charged service fees of £325,273 (2023: £309,888) from Clarity Ltd. During the financial year, the company declared dividends of £643,499 to both Clarity Ltd and Mishcon de Reya LLP, split according to their shares. At the balance sheet date, the total amount receivable from Clarity Ltd was £19,105 (2023: £22,083).