The Clearing Consultancy Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07133439

The Clearing Consultancy Limited

Filleted Unaudited Financial Statements

31 December 2024

The Clearing Consultancy Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		20,576	29,798

Current assets

Debtors	6	1,602,390	1,353,861
Cash at bank and in hand		867	118,873
		------------	------------
		1,603,257	1,472,734

Creditors: amounts falling due within one year	7	( 883,396)		( 704,317)
		------------		------------
Net current assets			719,861	768,417
			---------	---------
Total assets less current liabilities			740,437	798,215

Creditors: amounts falling due after more than one year	8		( 30,000)	( 75,000)

Provisions

Taxation including deferred tax	( 4,013)	( 4,516)
	---------	---------
Net assets	706,424	718,699
	---------	---------

Capital and reserves

Called up share capital	20	20
Profit and loss account	706,404	718,679
	---------	---------
Shareholders funds	706,424	718,699
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The Clearing Consultancy Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr P Dewar

Director

Company registration number: 07133439

The Clearing Consultancy Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is No 1 Clink Street, London, SE1 9DG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors consider it appropriate for the accounts to be prepared on a going concern basis.

Revenue recognition

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

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:

Leasehold property	-	Over the life of the lease
Plant & Machinery	-	25% straight line
Fixtures & fittings	-	25% reducing balance
Computer Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 23 (2023: 26 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	87,416	33,466	60,148	128,805	309,835
Additions	–	–	–	4,996	4,996
	--------	--------	--------	---------	---------
At 31 December 2024	87,416	33,466	60,148	133,801	314,831
	--------	--------	--------	---------	---------
Depreciation
At 1 January 2024	87,416	30,311	45,982	116,328	280,037
Charge for the year	–	2,524	3,638	8,056	14,218
	--------	--------	--------	---------	---------
At 31 December 2024	87,416	32,835	49,620	124,384	294,255
	--------	--------	--------	---------	---------
Carrying amount
At 31 December 2024	–	631	10,528	9,417	20,576
	--------	--------	--------	---------	---------
At 31 December 2023	–	3,155	14,166	12,477	29,798
	--------	--------	--------	---------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	408,662	357,645
Other debtors	1,193,728	996,216
	------------	------------
	1,602,390	1,353,861
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	82,141	45,000
Trade creditors	241,232	101,652
Corporation tax	1,646	43,188
Social security and other taxes	135,313	172,636
Other creditors	423,064	341,841
	---------	---------
	883,396	704,317
	---------	---------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	30,000	75,000
	--------	--------

9. Charges on assets

HSBC have a fixed and floating charge secured over the assets of the company.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	178,555	178,555
Later than 1 year and not later than 5 years	233,237	411,792
	---------	---------
	411,792	590,347
	---------	---------

11. Pension commitments

Pension contributions totalling £48,110 (2023: £24,606) were payable to the fund at the year end and are included in creditors.

12. Directors' advances, credits and guarantees

At the year end the company was owed £6,483 (2023: £5,589) by two of its directors. At the year end two of the directors were owed £43,259 (2023: £58,259) by the company. All balances are interest free and repayable on demand.

13. Related party transactions

During the year sales were made to a related party of £nil (2023: £90,389). As at the year end there is a debtor owed by the related party of £646,138 (2023: £663,369). The related party is under common control of the same shareholders.