Company Registration No. 09202627 (England and Wales)
CLEAR GUIDE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
PAGES FOR FILING WITH REGISTRAR
CLEAR GUIDE LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
CLEAR GUIDE LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CLEAR GUIDE LTD FOR THE YEAR ENDED 28 FEBRUARY 2021
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clear Guide Ltd for the year ended 28 February 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Clear Guide Ltd, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Clear Guide Ltd
and state those matters that we have agreed to state to the Board of Directors of Clear Guide Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clear Guide Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Clear Guide Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of Clear Guide Ltd. You consider that Clear Guide Ltd is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Clear Guide Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
10 November 2021
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
CLEAR GUIDE LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2021
28 February 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
218
401
Current assets
Debtors
4
5,849
10,608
Cash at bank and in hand
5,707
285
11,556
10,893
Creditors: amounts falling due within one year
5
(2,089)
(9,048)
Net current assets
9,467
1,845
Total assets less current liabilities
9,685
2,246
Creditors: amounts falling due after more than one year
6
(9,375)
Provisions for liabilities
8
(41)
(76)
Net assets
269
2,170
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
169
2,070
Total equity
269
2,170
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CLEAR GUIDE LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2021
28 February 2021
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 10 November 2021.
Mrs R A Best
Director
Company Registration No. 09202627
CLEAR GUIDE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 4 -
1
Accounting policies
Company information
Clear Guide Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
20 Alder Grove, Droitwich, Worcestershire, WR9 7QB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for
services provided in the normal course of business
.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The 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.
CLEAR GUIDE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences 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 the 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 liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2
(2020 - 2).
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 29 February 2020 and 28 February 2021
832
520
1,352
Depreciation and impairment
At 29 February 2020
560
391
951
Depreciation charged in the year
54
129
183
At 28 February 2021
614
520
1,134
Carrying amount
At 28 February 2021
218
218
At 28 February 2020
272
129
401
CLEAR GUIDE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 6 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
4,781
9,493
Other debtors
1,068
1,115
5,849
10,608
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
625
Trade creditors
115
Taxation and social security
81
2,733
Other creditors
1,383
6,200
2,089
9,048
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
9,375
7
Secured debts
The following secured debts are included within creditors:
2021
2020
£
£
Bank loans
10,000
-
Bank loans are secured by way of a government-backed guarantee.
8
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
41
76
CLEAR GUIDE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 7 -
9
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
10
Ultimate controlling party
The ultimate controlling party is Mrs R A Best.