Clearancezone Direct Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08119542

Clearancezone Direct Limited

Filleted Unaudited Financial Statements

31 December 2024

Clearancezone Direct Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	6		190,086		179,665

Current assets

Stocks		617,619	618,793
Debtors	7	99,898	124,101
Cash at bank and in hand		70,501	212,185
		---------	---------
		788,018	955,079

Creditors: amounts falling due within one year	8	628,379		509,647
		---------		---------
Net current assets			159,639		445,432
			---------		---------
Total assets less current liabilities			349,725		625,097

Creditors: amounts falling due after more than one year	9		121,769		204,354

Provisions

Taxation including deferred tax	46,980	36,275
	---------	---------
Net assets	180,976	384,468
	---------	---------

Capital and reserves

Called up share capital	10	301	301
Profit and loss account		180,675	384,167
		---------	---------
Shareholders funds		180,976	384,468
		---------	---------

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 comprehensive income 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 .

Clearancezone Direct Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 9 September 2025 , and are signed on behalf of the board by:

Mr L Hewitt

Director

Company registration number: 08119542

Clearancezone Direct 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 Unit 4, New Cleveland Street, Hull, HU8 7EX.

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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Short leasehold property	-	16% straight line
Fixtures and fittings	-	15% straight line
Motor vehicles	-	15% straight line
Equipment	-	15% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 30 (2023: 30 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	31	6,347

Deferred tax:

Origination and reversal of timing differences	10,705	16,148
	--------	--------
Tax on profit	10,736	22,495
	--------	--------

6. Tangible assets

	Short leasehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	15,376	17,510	256,835	15,985	305,706
Additions	–	9,609	44,970	1,970	56,549
	--------	--------	---------	--------	---------
At 31 December 2024	15,376	27,119	301,805	17,955	362,255
	--------	--------	---------	--------	---------
Depreciation
At 1 January 2024	12,478	7,501	95,071	10,991	126,041
Charge for the year	1,511	3,817	39,731	1,069	46,128
	--------	--------	---------	--------	---------
At 31 December 2024	13,989	11,318	134,802	12,060	172,169
	--------	--------	---------	--------	---------
Carrying amount
At 31 December 2024	1,387	15,801	167,003	5,895	190,086
	--------	--------	---------	--------	---------
At 31 December 2023	2,898	10,009	161,764	4,994	179,665
	--------	--------	---------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2024	150,590
	---------
At 31 December 2023	133,317
	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	–	2,563
Prepayments and accrued income	69,674	64,997
Directors loan account	3,949	42,666
Other debtors	26,275	13,875
	--------	---------
	99,898	124,101
	--------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	75,172	90,947
Trade creditors	225,010	101,499
Accruals and deferred income	38,959	52,698
Corporation tax	31	6,347
Social security and other taxes	216,253	203,855
Obligations under finance leases and hire purchase contracts	61,912	51,170
Other creditors	11,042	3,131
	---------	---------
	628,379	509,647
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	83,703	143,100
Obligations under finance leases and hire purchase contracts	38,066	61,254
	---------	---------
	121,769	204,354
	---------	---------

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	301	301	301	301
	----	----	----	----

11. Directors' advances, credits and guarantees

At the year end, the director owed the company £7,819, (2023-£42,665). This amount was repaid shortly after the year end