Clearfuture Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02026499

Clearfuture Limited

Company Limited by Guarantee

Filleted Financial Statements

31 March 2025

Clearfuture Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	4,137,487	4,068,128

Current assets

Debtors	7	170,415	174,928
Cash at bank and in hand		277,047	351,353
		---------	---------
		447,462	526,281

Creditors: amounts falling due within one year	8	245,123	267,863
		---------	---------
Net current assets		202,339	258,418
		-----------	-----------
Total assets less current liabilities		4,339,826	4,326,546

Creditors: amounts falling due after more than one year	9	2,251	2,807

Provisions

Taxation including deferred tax	26,123	12,944
	-----------	-----------
Net assets	4,311,452	4,310,795
	-----------	-----------

Capital and reserves

Revaluation reserve	2,017,572	2,017,572
Profit and loss account	2,293,880	2,293,223
	-----------	-----------
Member funds	4,311,452	4,310,795
	-----------	-----------

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 29 October 2025 , and are signed on behalf of the board by:

Mrs C J Beatty
Director

Company registration number: 02026499

Clearfuture Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Aizlewood's Mill, Nursery Street, Sheffield, S3 8GG.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, 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 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.

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:

Long leasehold property	-	1% straight line
Plant and 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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Company limited by guarantee

Every member of the Company undertakes to contribute such an amount as may be required, but not exceeding £1, to the Company's assets if it should be wound up while he/she is a member, or within one year after he/she ceases to be a member of the Company, for payment of the Company's debts and liabilities contracted before he/she ceased to be a member and of the costs, charges and expenses of the winding up and for the adjustment of the rights of the contributories among themselves.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

6. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Total
	£	£	£	£
Cost
At 1 April 2024	4,000,000	86,131	351,990	4,438,121
Additions	–	–	82,433	82,433
	-----------	-------	---------	-----------
At 31 March 2025	4,000,000	86,131	434,423	4,520,554
	-----------	-------	---------	-----------
Depreciation
At 1 April 2024	–	24,755	345,238	369,993
Charge for the year	–	952	12,122	13,074
	-----------	-------	---------	-----------
At 31 March 2025	–	25,707	357,360	383,067
	-----------	-------	---------	-----------
Carrying amount
At 31 March 2025	4,000,000	60,424	77,063	4,137,487
	-----------	-------	---------	-----------
At 31 March 2024	4,000,000	61,376	6,752	4,068,128
	-----------	-------	---------	-----------

7. Debtors

	2025	2024
	£	£
Trade debtors	46,536	55,703
Other debtors	123,879	119,225
	---------	---------
	170,415	174,928
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	201,908	217,604
Corporation tax	–	2,951
Social security and other taxes	3,996	2,816
Other creditors	39,219	44,492
	---------	---------
	245,123	267,863
	---------	---------

The aggregate amount for which creditors are secured on the asset to which the lease related to amounted to £556 (2024: £556).

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

	2025	2024
	£	£
Other creditors	2,251	2,807
	------	------

The aggregate amount for which creditors are secured on the asset to which the lease related to amounted to £2,251 (2024: £2,807).

10. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	451,163	526,281
	---------	---------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	252,101	270,669
	---------	---------

11. Contingencies

The directors have concluded that a part of the grant received in connection with the re-development of Aizlewoods Mill, Sheffield, over 25 years ago is not a liability of the company, but may be a contingent liability. The only situation where the the grant received of £950,019 would be repayable is where the property is sold, or where there was a material change of use of the property.

12. Summary audit opinion

The auditor's report dated 29 October 2025 was unqualified .

The senior statutory auditor was Stephen Allen ACA FCCA , for and on behalf of Allen, West and Foster Limited .

13. Related party transactions

During the year, management fees were paid to Sheffield Co-operative Development Group Limited, a company which retains significant influence over Clearfuture Limited , of £60,000 (2024: £60,000). Management fees of £263,268 (2024: £226,182) were also paid to Accountability Northern Limited, a Co-operative and Community Benefit Society (under the control of 11 members) of which two directors of Clearfuture Limited are members. At the year end a balance of £33,403 (2024: £38,089) was owed to Accountability Northern Limited for management fees. At the year end a balance of £58,536 (2024: £67,703) was owed to Clearfuture Limited from Accountability Northern Limited for licensing fees.

14. Ethical standards

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. Controlling party

The ultimate controlling party of Clearfuture Limited is Sheffield Co-operative Development Group Limited, a Company registered in England and Wales under the Co-operative and Community Benefit Societies Act 2014. The control is exerted by significant influence held over Clearfuture Limited.