| Registered Number:SC380001 |
For the year ended 31 May 2025
Scotland
Unaudited Financial Statements
For the year ended 31 May 2025
Clarity Simplicity Ltd
Contents Page
1
Statement of Financial Position
2 to 7
Notes to the Financial Statements
Clarity Simplicity Ltd
Statement of Financial Position
2024
2025
| Property, plant and equipment |
24,355
21,031
2
24,355
21,031
137,742
17,211
3
| Trade and other receivables |
221,944
401,727
4
133,957
| Cash and cash equivalents |
148,291
567,229
493,643
| Trade and other payables: amounts falling due within one |
| year |
(281,182)
(292,837)
5
212,461
274,392
Net current assets
| Total assets less current liabilities |
298,747
233,492
| Trade and other payables: amounts falling due after more |
| than one year |
(91,982)
(65,209)
6
(6,089)
(5,258)
| Provisions for liabilities |
227,449
Net assets
136,252
100
100
227,349
136,152
227,449
136,252
Shareholders' funds
| For the year ended 31 May 2025 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
| each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
| 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
| statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 May 2025
Clarity Simplicity Ltd
Statement of Financial Position Continued
| Mr William Smith Director |
| These financial statements were approved and authorised for issue by the Board on 16 December 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 May 2025
Clarity Simplicity Ltd
Notes to the Financial Statements
Statutory Information
| Clarity Simplicity Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number |
| SC380001. |
34 Woodlands Road
Glasgow
G3 6UR
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. |
| The financial statements have been prepared under the historical costs convention as modified by the revaluation of |
| certain fixed assets and in accordance with the accounting policies set out below. |
Revenue recognition
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred, and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
Property, plant and equipment
| Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Furniture and Fittings
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and |
| the carrying value of the asset, and is credited or charged to profit or loss. |
| Impairment of Fixed Assets |
| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine |
| whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the |
| recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). |
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For the year ended 31 May 2025
Clarity Simplicity Ltd
Notes to the Financial Statements Continued
Deferred tax
| The tax expense represents the sum of tax currently payable and deferred tax. Deferred taxDeferred tax liabilities are generally recognised for all timing difference and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and laibilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
Hire purchase and leasing commitments
| Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits rom the lease asset are consumed. |
Pension costs and other post-retirement benefits
| The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. Employee BenefitsThe costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
Cash at Bank and in hand
| Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other |
| short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts |
| are shown within borrowings in current liabilities. |
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For the year ended 31 May 2025
Clarity Simplicity Ltd
Notes to the Financial Statements Continued
Financial Instruments
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other |
| Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price |
| including transaction costs and are subsequently carried at amortised cost using the effective interest method unless |
| the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
| future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are |
| not amortised. |
| Impairment of financial assets |
| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment |
| at each reporting end date. |
| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred |
| after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is |
| impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated |
| cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or |
| loss. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment ws recognised, the |
| impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying |
| amount would have been, had the impairment not previously been recognised. The impairment reversal is |
| recognised in profit or loss. |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are |
| settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to |
| another entity, or if some significant risks and rewards of ownership are retained but control of the asset has |
| transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements |
| entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company |
| after deducting all of its liabilities. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies, and preference shares |
| that are classified as debt are initially recognised at transaction price unless the arrangement constitutes a financing |
| transaction, where the debt instrument is measured at the present value of the future payments discounted at a |
| market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
| business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or |
| less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price |
| and subsequently measured at amortised cost using the effective interest method. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or |
| cancelled. |
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For the year ended 31 May 2025
Clarity Simplicity Ltd
Notes to the Financial Statements Continued
Equity Instruments
| Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
| Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the |
| company. |
| 2. Property, plant and equipment |
55,226
35,178
20,048
10,754
3,397
7,357
27,405
38,575
65,980
| Provision for depreciation and impairment |
34,195
18,579
15,616
Charge for year
7,430
3,800
3,630
41,625
22,379
19,246
8,159
16,196
24,355
4,432
16,599
21,031
2024
2025
17,211
137,742
| 4. Trade and other receivables |
2024
2025
302,417
170,818
| Amounts owed by group undertakings and participating interests |
2,884
2,884
96,426
48,242
221,944
401,727
| The debtors above include the following amounts falling due after more than one year: |
| Amounts owed by group undertakings and participating interests |
2,884
2,261
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For the year ended 31 May 2025
Clarity Simplicity Ltd
Notes to the Financial Statements Continued
| 5. Trade and other payables: amounts falling due within one year |
2024
2025
27,315
27,315
23,200
14,549
| Taxation and social security |
215,000
210,555
27,322
28,763
292,837
281,182
| 6. Trade and other payables: amounts falling due after more than one year |
2024
2025
65,209
91,982
| 7. Guarantees and other financial commitments |
| At 31 May 2025 the company had annual commitments under non-cancellable operating leases as set out below: |
2024
2025
| Operating leases which expire: |
92,851
61,028
61,028
92,851
| 8. Average number of persons employed |
No employees were employed in the period.32(2024 : 32)
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