Clara-Pensions Limited - Accounts to registrar (filleted) - small 18.2
Clara-Pensions Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Audited Financial Statements for the Year Ended 31 December 2021 |
| for |
| Clara-Pensions Limited |
| Clara-Pensions Limited (Registered number: 10925368) |
| Contents of the Financial Statements |
| for the year ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Clara-Pensions Limited |
| Company Information |
| for the year ended 31 December 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditors |
| 1st Floor |
| Healthaid House |
| Marlborough Hill |
| Harrow |
| Middlesex |
| HA1 1UD |
| Clara-Pensions Limited (Registered number: 10925368) |
| Balance Sheet |
| 31 December 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Clara-Pensions Limited (Registered number: 10925368) |
| Notes to the Financial Statements |
| for the year ended 31 December 2021 |
| 1. | STATUTORY INFORMATION |
| Clara-Pensions Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared using the going concern basis, which assumes that the Group will continue to trade for a period of at least 12 months from the balance sheet approval date. The directors have assessed the use of the going concern basis and consider its use appropriate. |
| The ultimate parent company of the Company continues to provide financial assistance to ensure that the Company can meet its liabilities as they arise. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Clara-Pensions Limited (Registered number: 10925368) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2021 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| Included within trade creditors is NIL (2020 - £191,921) owed to a supplier, NIL (2020 - £19,987) of deferred net salary owed to A Saron and NIL (2020 - £17,993) of deferred net salary owed to K Toker, both of whom are directors of the Company. These amounts were converted to B Preference Shares at £1 per share (at par) during the year. |
| Included within amounts owed to group undertakings are £221,326 (2020 - NIL) owed to Clara-Pensions Group Ltd, the immediate parent company and NIL (2020 - £500) owed to Clara Trustees Ltd. |
| Included within other creditors are accruals of £108,365 (2020 - £212,533) relating to bonuses and deferred or accrued gross salaries due to the directors. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Amounts owed to group undertakings |
| Clara-Pensions Limited (Registered number: 10925368) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| Included in creditors due after more than one year are the following: - |
| - £1,883,055 (2020 - £1,723,812) representing unsecured loan notes issued to the Company's parent, Clara-Pensions Group Limited. The balances comprises £1,518,709 (2020 - £1,480,729) of capital and £364,346 (2020 - £243,083) of accrued interest, which accrues at 8% per annum. Repayment of the loan notes and interest is due on any date on which it is agreed between the Company and the Noteholder. |
| - £16,273,283 (2020 - £11,223,848) representing an intra-group loan from the Company's parent, Clara-Pensions Group Limited. The balance comprises £14,349,502 of capital (2020 - £10,349,502) and £1,923,781 (2020 - £874,347) of accrued interest, which accrues at 8% per annum. Repayment of the loan is on demand. |
| - The company's parent, Clara-Pensions Group Limited, has confirmed that repayment of both the loan notes and intra-group loan will not be demanded within 12 months of the date of the approval of these financial statements. |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Clara-Pensions Group Ltd. |
| The ultimate controlling party is |