Registration number: 07699066

Clarity Search Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Clarity Search Limited

Company Information

Directors

Frances Mary Minogue John Stuart Herlihy

Registered office

80-83 Long Lane London EC1A 9ET

Accountants

Carbon Accountancy Limited Chartered Accountants80-83 Long Lane London EC1A 9ET

Clarity Search Limited

(Registration number: 07699066)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	3	915	2,464
Current assets
Debtors	4	309,369	265,656
Cash at bank and in hand		435,979	3,433,967
		745,348	3,699,623
Creditors: Amounts falling due within one year	5	(431,243)	(455,701)
Net current assets		314,105	3,243,922
Net assets		315,020	3,246,386
Capital and reserves
Called up share capital	6	10,000	10,000
Retained earnings		305,020	3,236,386
Shareholders' funds		315,020	3,246,386

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Frances Mary Minogue Director

Clarity Search Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Clarity Search Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class	Depreciation method and rate
Office equipments	25% straight line basis
Fixtures and fittings	25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

Clarity Search Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	10,052	10,052
At 31 December 2024	10,052	10,052
Depreciation
At 1 January 2024	7,588	7,588
Charge for the year	1,549	1,549
At 31 December 2024	9,137	9,137
Carrying amount
At 31 December 2024	915	915
At 31 December 2023	2,464	2,464

4

Debtors

Current	2024 £	2023 £
Trade debtors	256,883	228,346
Prepayments	41,486	24,710
Other debtors	11,000	12,600
	309,369	265,656

Clarity Search Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	77,424	156,023
Taxation and social security	343,351	282,583
Accruals and deferred income	5,261	10,850
Other creditors	5,207	6,245
	431,243	455,701

6	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	10,000	10,000	10,000	10,000

7	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	At 31 December 2024 £
Frances Mary Minogue
Amount outstanding to director	(2,000)	(2,000)

2023	At 1 January 2023 £	Repayments by director £	At 31 December 2023 £
Frances Mary Minogue
Amount outstanding to director	(1,843)	(157)	(2,000)

Clarity Search Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Summary of transactions with parent

Clarity Search (EOT) Trustee Limited is a UK-resident company, limited by guarantee, in which John Herlihy acts as a director.

During the year, in October 2024, Clarity Search (EOT) Trustee Limited acquired the entire shareholding of Clarity Search Limited.

Loans from related parties

2024	Clarity Search (EOT) Trustee Limited £	Total £
Advanced	3,525,880	3,525,880
Repaid	(3,525,880)	(3,525,880)
At end of period	-	-

The payment of £3,525,880 made by the Company on behalf of the EOT has been treated as a distribution, presented as a gift out of distributable reserves.

8	Ultimate controlling party

During the year, in October 2024, the shares of Clarity Search Limited were acquired by Clarity Search (EOT) Trustee Limited, an employee ownership trust. The company is controlled by Clarity Search (EOT) Trustee Limited.