Clear Creations Ltd - Accounts

CLEAR CREATIONS LTD - Company Information

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Registered Number: 06764718

England and Wales

Abridged Accounts

for the year ended 31 March 2021

for

CLEAR CREATIONS LTD

Clear Creations Ltd
Contents Page
For the year ended 31 March 2021

Statement of financial position	1
Notes to the financial statements	2

Registered Number: 06764718 Clear Creations Ltd
Statement of Financial Position
As at 31 March 2021

	2021 £	2020 £
Fixed assets
Tangible fixed assets	14,656	-
	14,656	-
Current assets
Stocks	27,455	28,000
Debtors: amounts falling due within one year	29,222	12,476
Cash at bank and in hand	9,628	13,222
	66,305	53,698
Creditors: amount falling due within one year	(79,293)	(11,333)
Net current liabilities	(12,988)	42,365

Total assets less current liabilities	1,668	42,365
Net assets	1,668	42,365

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	668	41,365
Shareholder's funds	1,668	42,365

For the year ended 31 March 2021 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.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the director on 21 December 2021 and were signed by:

--------------------------------
Ms V Prior
Director

Clear Creations Ltd
Notes to the Abridged Financial Statements
For the year ended 31 March 2021

General Information

Clear Creations Ltd is a private company, limited by shares, registered in England and Wales, registration number 06764718, registration address Albion House, Albion Street, Lewes, East Sussex, BN7 2NF

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

10 years Straight Line

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the year was 1 (2020 : 2).

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 01 April 2020	38,000	38,000
Additions	-	-
Disposals	-	-
At 31 March 2021	38,000	38,000
Amortisation
At 01 April 2020	38,000	38,000
Charge for year	-	-
On disposals	-	-
At 31 March 2021	38,000	38,000
Net book values
At 31 March 2021	-	-
At 31 March 2020	-	-

Tangible fixed assets

Cost or valuation	Plant and Machinery	Total
	£	£
At 01 April 2020	30,334	30,334
Additions	-	-
Disposals	-	-
At 31 March 2021	30,334	30,334
Depreciation
At 01 April 2020	13,584	13,584
Charge for year	2,094	2,094
On disposals	-	-
At 31 March 2021	15,678	15,678
Net book values
Closing balance as at 31 March 2021	14,656	14,656
Opening balance as at 01 April 2020	-	-