Registration number: 05870648

First Clarity Limited

Contents

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

First Clarity Limited

Company Information

Director

RE Sheikh

Registered office

62-64 Baker Street London England W1U 7DF

Accountants

Wem & Co Chartered Accountants Savoy House Savoy Circus London W3 7DA

First Clarity Limited

(Registration number: 05870648)
Balance Sheet as at 31 July 2025

	Note	31.07.25 £	31.07.24 £
Current assets
Debtors	5	17,902	10,000
Cash at bank and in hand		351	4
		18,253	10,004
Creditors: Amounts falling due within one year	6	(585,930)	(596,841)
Net liabilities		(567,677)	(586,837)
Capital and reserves
Called up share capital		100	100
Retained earning		(567,777)	(586,937)
Shareholders' deficit		(567,677)	(586,837)

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 April 2026
 

......................................... RE Sheikh Director

First Clarity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
62-64 Baker Street
London
W1U 7DF
England

These financial statements were authorised for issue by the director on 28 April 2026.

2	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.

The presentational currency is Pound Sterling (£).

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.

First Clarity Limited

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

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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:

Asset class	Depreciation method and rate
Plant and machinery etc	Straight line over 4 years

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.

First Clarity Limited

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

2	Accounting policies (continued)

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

First Clarity Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 August 2024	220,347	220,347
At 31 July 2025	220,347	220,347
Depreciation
At 1 August 2024	220,347	220,347
At 31 July 2025	220,347	220,347
Carrying amount
At 31 July 2025	-	-

5

Debtors

Current	31.07.25 £	31.07.24 £
Trade debtors	2,600	-
Prepayments	15,000	10,000
Other debtors	302	-
	17,902	10,000

First Clarity Limited

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

6

Creditors

Creditors: amounts falling due within one year

	Note	31.07.25 £	31.07.24 £
Due within one year
Trade creditors		247,609	274,872
Amounts owed to group undertakings and undertakings in which the company has a participating interest		80,037	95,879
Taxation and social security		94,270	110,788
Accruals and deferred income		72,480	32,250
Other creditors		91,534	83,052
		585,930	596,841

Intercompany balances include £52,185 due to FC People Ltd and £27,852 due to Evolok Ltd, both under common control.