REGISTERED NUMBER: 08272371 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2024 TO 31 DECEMBER 2024

FOR

CLEAR SOLUTIONS (HOLDINGS) LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Income Statement

7

Consolidated Other Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

16

DIRECTORS:

C E Mansell

J R Mansell

REGISTERED OFFICE:

Unit B3 Wem Industrial Estate

Soulton Road

Wem

Shropshire

SY4 5SD

REGISTERED NUMBER:

08272371 (England and Wales)

AUDITORS:

Prime

Chartered Accountants

Statutory Auditor

Corner Oak

1 Homer Road

Solihull

B91 3QG

The directors present their strategic report of the company and the group for the period 1 February 2024 to 31 December 2024.

REVIEW OF BUSINESS

The period to 31 December 2024 was a disappointing period for the Group, impacted primarily by a significant downturn in the USA customers. Turnover was reduced by 39.2% and gross margin decreased slightly from 33.8% to 32.4%, while gross profit was reduced by 42.4%. As a result of the downturn a Group reorganisation took place in December to resize the business.

PRINCIPAL RISKS AND UNCERTAINTIES

Uncertainty in global markets.

The election of a new administration in the USA and their commencement of an international tariff war has created uncertainty in the international arena. Our ability to grow back the USA market will be impacted. The wars in Ukraine and Gaza continue to impact the energy markets and global supply chain. The supply base has been to diversified thus reducing reliance on any one region or supplier, and we are diversifying the customer base and entering new markets and regions which takes time.

ANALYSIS BASED UPON KEY PERFORMANCE INDICATORS

The key business indicators are turnover, gross margin and net profit. Turnover was down from last year by 43% reflecting a significant reduction in business from USA customers, however gross margins were improved, reflecting the work done on diversifying the supply base. There was a net loss for the period and the company was resized accordingly in December.

ON BEHALF OF THE BOARD:

J R Mansell - Director

28 August 2025

The directors present their report with the financial statements of the company and the group for the period 1 February 2024 to 31 December 2024.

DIVIDENDS

Dividends paid for the period ended 31 December 2024 were £200,000 (year ended 31 January 2024: £195,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

C E Mansell

J R Mansell

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Prime, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J R Mansell - Director

28 August 2025

Opinion

We have audited the financial statements of Clear Solutions (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's loss for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and other relevant parties.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jeremy Kitson BA FCA (Senior Statutory Auditor)

for and on behalf of Prime

Chartered Accountants

Statutory Auditor

Corner Oak

1 Homer Road

Solihull

B91 3QG

18 September 2025

TURNOVER

3

8,088,905

13,295,567

Cost of sales

5,468,473

8,749,107

GROSS PROFIT

2,620,432

4,546,460

Administrative expenses

3,392,195

3,592,821

(771,763

)

953,639

Other operating income

2,000

1,419

OPERATING (LOSS)/PROFIT

5

(769,763

)

955,058

Interest receivable and similar income

35

700

(769,728

)

955,758

Interest payable and similar expenses

7

113,133

247,747

(LOSS)/PROFIT BEFORE TAXATION

(882,861

)

708,011

Tax on (loss)/profit

8

(181,674

)

173,211

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(701,187

)

534,800

(Loss)/profit attributable to:

Owners of the parent

(701,187

)

534,800

(LOSS)/PROFIT FOR THE PERIOD

(701,187

)

534,800

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(701,187

)

534,800

Total comprehensive income attributable to:

Owners of the parent

(701,187

)

534,800

FIXED ASSETS

Intangible assets

11

2,746

3,095

Tangible assets

12

765,983

906,211

Investments

13

-

-

768,729

909,306

CURRENT ASSETS

Stocks

14

2,492,936

3,190,147

Debtors

15

939,887

996,736

Cash at bank

708,531

757,493

4,141,354

4,944,376

CREDITORS

Amounts falling due within one year

16

1,632,769

1,265,813

NET CURRENT ASSETS

2,508,585

3,678,563

TOTAL ASSETS LESS CURRENT LIABILITIES

3,277,314

4,587,869

CREDITORS

Amounts falling due after more than one year

17

(408,426

)

(661,122

)

PROVISIONS FOR LIABILITIES

21

(37,795

)

(194,467

)

NET ASSETS

2,831,093

3,732,280

CAPITAL AND RESERVES

Called up share capital

22

100

100

Retained earnings

23

2,830,993

3,732,180

SHAREHOLDERS' FUNDS

2,831,093

3,732,280

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:

J R Mansell - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

38,164

38,164

38,164

38,164

CURRENT ASSETS

Cash at bank

792

145,875

CREDITORS

Amounts falling due within one year

16

38,061

183,061

NET CURRENT LIABILITIES

(37,269

)

(37,186

)

TOTAL ASSETS LESS CURRENT LIABILITIES

895

978

CAPITAL AND RESERVES

Called up share capital

22

100

100

Retained earnings

795

878

SHAREHOLDERS' FUNDS

895

978

Company's profit for the financial year

199,917

194,916

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:

J R Mansell - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

100

3,392,380

3,392,480

Changes in equity

Dividends

-

(195,000

)

(195,000

)

Total comprehensive income

-

534,800

534,800

Balance at 31 January 2024

100

3,732,180

3,732,280

Changes in equity

Dividends

-

(200,000

)

(200,000

)

Total comprehensive income

-

(701,187

)

(701,187

)

Balance at 31 December 2024

100

2,830,993

2,831,093

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

100

962

1,062

Changes in equity

Dividends

-

(195,000

)

(195,000

)

Total comprehensive income

-

194,916

194,916

Balance at 31 January 2024

100

878

978

Changes in equity

Dividends

-

(200,000

)

(200,000

)

Total comprehensive income

-

199,917

199,917

Balance at 31 December 2024

100

795

895

Cash flows from operating activities

Cash generated from operations

1

517,654

781,002

Interest paid

(113,133

)

(110,210

)

Finance costs paid

25,000

-

Tax paid

(107,125

)

(244,189

)

Net cash from operating activities

322,396

426,603

Cash flows from investing activities

Purchase of intangible fixed assets

(200

)

-

Purchase of tangible fixed assets

(10,976

)

(528,471

)

Interest received

35

700

Net cash from investing activities

(11,141

)

(527,771

)

Cash flows from financing activities

Loans advanced

-

200,000

Loan repayments

(201,666

)

(173,333

)

Hire purchase amounts advanced

-

464,663

Hire purchase repayments

(103,071

)

(71,043

)

Exceptional cost associated with finance

(25,000

)

(137,537

)

Equity dividends paid

(200,000

)

(195,000

)

Net cash from financing activities

(529,737

)

87,750

Decrease in cash and cash equivalents

(218,482

)

(13,418

)

Cash and cash equivalents at beginning of period

2

436,044

449,462

Cash and cash equivalents at end of period

2

217,562

436,044

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1.2.24

to

Year ended

31.12.24

31.1.24

£

£

(Loss)/profit before taxation

(882,861

)

708,011

Depreciation charges

151,753

106,038

Loss on disposal of fixed assets

-

828

Finance costs

113,133

247,747

Finance income

(35

)

(700

)

(618,010

)

1,061,924

Decrease/(increase) in stocks

697,211

(402,705

)

Decrease in trade and other debtors

88,166

316,542

Increase/(decrease) in trade and other creditors

350,287

(194,759

)

Cash generated from operations

517,654

781,002

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 December 2024

31.12.24

1.2.24

£

£

Cash and cash equivalents

708,531

757,493

Bank overdrafts

(490,969

)

(321,449

)

217,562

436,044

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

757,493

753,162

Bank overdrafts

(321,449

)

(303,700

)

436,044

449,462

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.2.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

757,493

(48,962

)

708,531

Bank overdrafts

(321,449

)

(169,520

)

(490,969

)

436,044

(218,482

)

217,562

Debt

Finance leases

(467,891

)

103,071

(364,820

)

Debts falling due within 1 year

(220,000

)

1

(219,999

)

Debts falling due after 1 year

(338,333

)

201,665

(136,668

)

(1,026,224

)

304,737

(721,487

)

Total

(590,180

)

86,255

(503,925

)

1.	STATUTORY INFORMATION

Clear Solutions (Holdings) 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The Group consolidated financial statements include the financial statements of the Company and all of its subsidiary undertakings made up to 31 December 2024.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life.

Tangible fixed assets

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery

- Varying rates based upon cost and anticipated asset life

Fittings fixtures and equipment

- Varying rates based upon cost and anticipated asset life

Motor vehicles

- Varying rates based upon cost and anticipated asset life

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement within other administrative expenses.

Other financial assets and liabilities, such as loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

Period

1.2.24

to

Year ended

31.12.24

31.1.24

£

£

United Kingdom

1,586,710

2,010,282

Other European markets

3,254,880

2,761,088

Rest of the world

3,247,315

8,524,197

8,088,905

13,295,567