REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 JULY 2021 |
|
FOR |
|
CLARK INTEGRATED TECHNOLOGIES LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 JULY 2021 |
|
FOR |
|
CLARK INTEGRATED TECHNOLOGIES LIMITED |
CLARK INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC517524) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 | to | 5 |
|
CLARK INTEGRATED TECHNOLOGIES LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2021 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
28 Broad Street |
Peterhead |
Aberdeenshire |
AB42 1BY |
|
|
|
BANKERS: |
|
PO Box 17235 |
Edinburgh |
EH11 1YH |
CLARK INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC517524) |
|
BALANCE SHEET |
31 JULY 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his 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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
CLARK INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC517524) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Clark Integrated Technologies Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Investments in subsidiaries |
Investments are stated at cost less impairment. |
|
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
|
Debt instruments like loans and other accounts receivable and payable are initially measured at the present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in the case of an outright short term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
|
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
|
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the net present value of estimated cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under contract. |
|
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
|
CLARK INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC517524) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
|
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
Going concern |
At the time of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future, and he therefore continues to adopt the going concern basis of accounting in preparing the financial statements. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | FIXED ASSET INVESTMENTS |
Investment |
in group |
undertaking |
£ |
COST |
At 1 August 2020 |
and 31 July 2021 |
|
NET BOOK VALUE |
At 31 July 2021 |
|
At 31 July 2020 |
|
|
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
|
|
Registered office: |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2021 | 2020 |
£ | £ |
Aggregate capital and reserves |
|
|
Profit for the year |
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
|
|
CLARK INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: SC517524) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. | RELATED PARTY DISCLOSURES |
|
Clark Computers Limited is a company within the same group as Clark Integrated Technologies Limited. As at 31st July 2021, Clark Integrated Technologies Limited owes £1,041,778 (2020: 933,293) to Clark Computers Limited. Management fees of £10,000 (2020: £25,000) were charged to Clark Computers Limited during the year. |
|
8. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is
|