Form Financial Clarity Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05123232 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Form Financial Clarity Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M I Beddowes

Mr D London

SECRETARY:

Mr M I Beddowes

REGISTERED OFFICE:

No.1 The Paddocks

Impney Estate

Droitwich Spa

Worcestershire

WR9 0BL

REGISTERED NUMBER:

05123232 (England and Wales)

ACCOUNTANTS:

Ground Control Business Management

St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

FIXED ASSETS

Intangible assets

3

-

Tangible assets

4

266,931

236,800

266,931

236,800

CURRENT ASSETS

Stocks

97,699

153,000

Debtors

5

2,998,154

2,959,208

Cash at bank

329,861

92,583

3,425,714

3,204,791

CREDITORS

Amounts falling due within one year

6

388,919

394,138

NET CURRENT ASSETS

3,036,795

2,810,653

TOTAL ASSETS LESS CURRENT LIABILITIES

3,303,726

3,047,453

CREDITORS

Amounts falling due after more than one year

7

(885,464

)

(943,762

)

PROVISIONS FOR LIABILITIES

(457,398

)

(468,123

)

NET ASSETS

1,960,864

1,635,568

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

1,960,862

1,635,566

SHAREHOLDERS' FUNDS

1,960,864

1,635,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2026 and were signed on its behalf by:

Mr D London - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Goodwill

Goodwill relates to the acquisition of a business in 2012 and was fully amortised over a period of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on cost

Stocks

Stock and work in progress is included at cost.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors

Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for 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 receivable.

Trade creditors

Trade creditors 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 amounts falling due after more than one year.

Equity instruments

Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 12 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

1,227,801

AMORTISATION

At 1 January 2025

and 31 December 2025

1,227,801

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2025

60,939

425,380

486,319

Additions

-

100,013

At 31 December 2025

60,939

525,393

586,332

DEPRECIATION

At 1 January 2025

-

249,519

Charge for year

-

69,882

At 31 December 2025

-

319,401

NET BOOK VALUE

At 31 December 2025

60,939

205,992

266,931

At 31 December 2024

60,939

175,861

236,800

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

169,495

192,178

Amounts owed by group undertakings

2,243,025

Other debtors

585,634

524,005

2,998,154

2,959,208

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

6,121

6,254

Hire purchase contracts

32,682

18,444

Trade creditors

1,339

3,857

Taxation and social security

281,503

295,535

Other creditors

67,274

70,048

388,919

394,138

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

18,417

23,839

Hire purchase contracts

173,995

125,168

Other creditors

693,052

794,755

885,464

943,762

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

2

Ordinary

1

2

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

Mr M I Beddowes

Balance outstanding at start of year

200,982

138,598

Amounts advanced

149,117

120,009

Amounts repaid

(91,000

)

(57,625

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

259,099

200,982

Mr D London

Balance outstanding at start of year

180,104

113,686

Amounts advanced

153,232

127,408

Amounts repaid

(125,284

)

(60,990

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

208,052

180,104

Interest is charged on advances to the director at the HMRC approved rate of interest. The loan was provided with no fixed repayment terms and no security.