ACCOUNTS - Final Accounts preparation

Company registration number: 06451516

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	CLIPPER IT SERVICES LIMITED


CLIPPER IT SERVICES LIMITED

COMPANY INFORMATION

Director	C Phillips


Registered number	06451516


Registered office	St. Annes Send Hill
	Send
	Woking
	Surrey
	GU23 7HR


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


CLIPPER IT SERVICES LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 6


CLIPPER IT SERVICES LIMITED REGISTERED NUMBER:06451516

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		2,350		3,415
			2,350		3,415
Current assets
Debtors: amounts falling due within one year	5	13,727		41,611
Cash at bank and in hand		14,181		3,489
		27,908		45,100
Creditors: amounts falling due within one year	6	(30,161)		(48,277)
Net current liabilities			(2,253)		(3,177)
Total assets less current liabilities			97		238

Net assets			97		238

Capital and reserves
Called up share capital	1	1
Profit and loss account	96	237
	97	238

Page 1


CLIPPER IT SERVICES LIMITED REGISTERED NUMBER:06451516

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

C Phillips

Director

Date: 30 September 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2


CLIPPER IT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
Clipper IT Services Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of its registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3


CLIPPER IT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

				Office equipment	-	15%	reducing balance
				Computer equipment	-	33%	straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Financial instruments

The Company only 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.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).

Page 4


CLIPPER IT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

	Plant and machinery etc.	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	6,269	1,950	8,219
At 31 December 2024	6,269	1,950	8,219
Depreciation
At 1 January 2024	3,504	1,300	4,804
Charge for the year on owned assets	415	650	1,065
At 31 December 2024	3,919	1,950	5,869
Net book value
At 31 December 2024	2,350	-	2,350
At 31 December 2023	2,765	650	3,415

Debtors

					2024	2023
					£	£


Trade debtors	-	7,176
Other debtors	8,458	29,166
Tax recoverable	5,269	5,269
	13,727	41,611

Page 5


CLIPPER IT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Corporation tax	21,377	37,058
Other taxation and social security	4,068	8,619
Other creditors	2,016	-
Accruals and deferred income	2,700	2,600
	30,161	48,277

7.	Related party transactions

		Brought forward 1 January 2024	Advances	Repaid	Carried forward 31 December 2024
		£	£	£	£

	Director loan	19,257	6,500	(17,299)	8,458
		19,257	6,500	(17,299)	8,458

No interest has been applied on this loan.

Page 6