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Registration number: 06636109

Clear Books Limited
Annual Report and Financial Statements
for the Year Ended 31 March 2025

Clear Books Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Statement of Changes in Equity | 3
Notes to the Financial Statements | 4 to 12

Clear Books Limited

Company Information

Directors | D B Carr J R Fouracre J McLoughlin

Company secretary | J R Fouracre

Registered office | 184 Shepherds Bush Road London W6 7NL

Auditors | Shaw Gibbs (Audit) Limited Statutory AuditorSalatin House 19 Cedar Road Sutton Surrey SM2 5DA

Clear Books Limited

(Registration number: 06636109)
Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Non current assets |  |  |
Property, plant & equipment | 5 | 3,171 | 3,629
Investments | 6 | 1 | 1
|  | 3,172 | 3,630
Current assets |  |  |
Receivables | 7 | 84,732 | 98,057
Cash at bank and in hand |  | 962,495 | 952,174
|  | 1,047,227 | 1,050,231
Payables: Amounts falling due within one year | 9 | (401,505) | (431,116)
Net current assets |  | 645,722 | 619,115
Net assets |  | 648,894 | 622,745
Equity |  |  |
Called up share capital | 11 | 219 | 219
Share premium reserve | 11 | 598,508 | 598,508
Retained earnings | 11 | 50,167 | 24,018
Shareholders' funds |  | 648,894 | 622,745

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income statement has been taken.

The financial statements of Clear Books Limited were approved and authorised for issue by the Board on 18 December 2025 and signed on its behalf by:

.........................................

D B Carr
Director

Clear Books Limited

Statement of Changes in Equity
for the Year Ended 31 March 2025

| Share capital £ | Share premium £ | Retained earnings £ | Total £
At 1 April 2024 | 219 | 598,508 | 24,018 | 622,745
Profit for the year | - | - | 616,441 | 616,441
Dividends | - | - | (590,292) | (590,292)
At 31 March 2025 | 219 | 598,508 | 50,167 | 648,894

| Share capital £ | Share premium £ | Retained earnings £ | Total £
At 1 April 2023 | 219 | 598,508 | 65,902 | 664,629
Profit for the year | - | - | 439,095 | 439,095
Dividends | - | - | (480,979) | (480,979)
At 31 March 2024 | 219 | 598,508 | 24,018 | 622,745

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

1 | General information

Clear Books Limited (the 'company') is a private company limited by share capital, registered in United Kingdom under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2 | Accounting policies

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.

Going concern

The directors have considered the company’s financial position, liquidity and future performance together with financial projections for the company over the foreseeable future and have also reviewed the availability of banking facilities. After making enquiries, the directors are satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the company’s financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Group accounts not prepared
The company and its subsidiaries comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 to not prepare group financial statements and accordingly these financial statements present information about the company as a single undertaking.

Exemption from preparing a cash flow statement
The company qualifies as a small entity and in consequence has taken advantage of paragraph 7.1B of FRS 102 not to present a statement of cash flows.

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue receivable by the company is in respect of the provision of software services to customers net of value added tax. Revenue is recognised when the service is provided to the customer. Deferred revenue represents the estimated unearned portion of fees received to the extent that they are considered recoverable.

Taxation

The tax expense for the period comprises current and deferred 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.

Property, plant & equipment

Property, plant and equipment is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture and fittings | 33% straight line
Plant and machinery | 33% straight line

Investments

Investments in subsidiaries are recorded at historical cost and an annual impairment review is carried out by the directors to ensure the carrying value is appropriate.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and is subject to insignificant risk of change in value.

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables 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 and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. The assets of the schemes are held separately from those of the company. Contributions are recognised in the income statement in the period in which they become payable.

Research and development costs
The company expenses all research costs as incurred. Expenditure on development activities, whereby research findings are applied to a plan or design for the production of new substantially improved processes, is capitalised as an intangible asset if the process is technically and commercially feasible and the company has sufficient resources and the intention to complete development. All other development expenditure and expenditure on research activities are recognised in the Income Statement.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 12 (2024 - 14).

4 | Taxation

Tax charged/(credited) in the income statement

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | - | 25,467

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 616,441 | 464,562
Corporation tax at standard rate | 154,110 | 116,141
Tax increase from effect of capital allowances and depreciation | 115 | 474
Effect of tax losses | - | (23,608)
Tax decrease from marginal relief | - | (2,096)
Increase from effect of tax incentives | 406 | 367
Other tax adjustments | (121,073) | -
Tax decrease from effect of adjustment in research and development | (33,558) | (65,811)
Total tax charge | - | 25,467

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

5 | Property, plant & equipment

| Fixtures & fittings £ | Total £
Cost
At 1 April 2024 | 51,704 | 51,704
Additions | 2,017 | 2,017
At 31 March 2025 | 53,721 | 53,721
Depreciation
At 1 April 2024 | 48,075 | 48,075
Charge for the year | 2,475 | 2,475
At 31 March 2025 | 50,550 | 50,550
Carrying amount
At 31 March 2025 | 3,171 | 3,171
At 31 March 2024 | 3,629 | 3,629

6 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 1 | 1

Subsidiaries | £
Cost
At 1 April 2024 | 1
Carrying amount
At 31 March 2025 | 1
At 31 March 2024 | 1

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

6 | Investments (continued)

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Clear Books Trustee Limited | England and Wales | Ordinary Shares | 100% | 100%

Subsidiary undertakings
Clear Books Trustee Limited The principal activity of Clear Books Trustee Limited is a dormant company.

7 | Receivables

| 2025 £ | 2024 £
Trade receivables | 31,890 | 31,049
Other receivables | 990 | 990
Prepayments | 51,222 | 66,018
Accrued income | 630 | -
| 84,732 | 98,057

8 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash on hand | 16 | 16
Cash at bank | 962,479 | 952,158
| 962,495 | 952,174

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

9 | Payables

| 2025 £ | 2024 £
Due within one year |  |
Trade payables | 30,667 | 7,271
Social security and other taxes | 110,826 | 109,405
Other payables | 46,730 | 53,318
Accruals | 213,282 | 235,655
Corporation tax liability | - | 25,467
| 401,505 | 431,116

10 | Obligations under leases

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 594 | 4,158

The amount of non-cancellable operating lease payments recognised as an expense during the year was £9,382 (2024 - £12,241).

11 | Share capital and reserves

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £0.0001 each | 2,186,266 | 219 | 2,186,266 | 219

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
The share premium reserve represents premium paid for new shares above their nominal value net of issue costs and bonus share issues. This reserve forms part of the company's non-distributable reserves.

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

12 | Dividends

|  | 2025 |  | 2024
|  | £ |  | £
Interim dividend of £0.27 (2024 - £0.22) per ordinary share |  | 590,292 |  | 480,979

13 | Related party transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 the "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose transactions with entities that are wholly owned members of the group.

14 | Contolling party

The directors consider that there is no ultimate controlling party.

15 | Pension scheme

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £124,959 (2024: £130,392).There were no contributions payable to the scheme at the end of the year.

16 | Events after the financial period

On 9 May 2025, the members of Clear Books Limited approved a special resolution to cancel the Company’s share premium account, reducing the balance from £598,508 to £nil. The amount cancelled has been credited to a reserve and is treated as a realised profit for the purposes of Part 23 of the Companies Act 2006. As this event occurred after the reporting date, it has not been reflected in the amounts recognised in these financial statements.

Clear Books Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025 (continued)

17 | Audit report

The Independent Auditor's Report was qualified. The financial statements do not include a tax charge for the year ended 31 March 2025, and there is no disclosure explaining its absence. In our opinion, this is not in accordance with FRS 102, which requires current tax liabilities and related charges to be recognised and disclosed in the financial statements. Had the tax charge been included, the profit for the year and net assets would have been reduced by approximately £121,073, and current liabilities increased by the same amount..

The name of the Senior Statutory Auditor who signed the audit report on 18 December 2025 was Ransford Agyei-Boamah, who signed for and on behalf of Shaw Gibbs (Audit) Limited.