Clarity Informatics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04133376 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

CLARITY INFORMATICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Price

Professor I N Purves

T J Sewart

D Taylor

SECRETARY:

Dr S Smart

REGISTERED OFFICE:

Deltic House

Kingfisher Way

Wallsend

Tyne and Wear

NE28 9NX

REGISTERED NUMBER:

04133376 (England and Wales)

ACCOUNTANTS:

Robson Laidler Accountants Limited

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

NE2 1TJ

FIXED ASSETS

Intangible assets

5

16,725

-

Tangible assets

6

578,538

517,914

595,263

517,914

CURRENT ASSETS

Debtors

7

2,437,498

1,238,508

Cash at bank and in hand

2,693,525

2,208,069

5,131,023

3,446,577

CREDITORS

Amounts falling due within one year

8

3,782,304

2,812,444

NET CURRENT ASSETS

1,348,719

634,133

TOTAL ASSETS LESS CURRENT LIABILITIES

1,943,982

1,152,047

CREDITORS

Amounts falling due after more than one year

9

(1,143,300

)

(1,083,841

)

PROVISIONS FOR LIABILITIES

(22,843

)

-

NET ASSETS

777,839

68,206

CAPITAL AND RESERVES

Called up share capital

70

70

Capital redemption reserve

5

5

Retained earnings

777,764

68,131

SHAREHOLDERS' FUNDS

777,839

68,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2021 and were signed on its behalf by:

D Taylor - Director

1.	STATUTORY INFORMATION

Clarity Informatics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements have been rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of consideration received and receivable. Where a contract has only been partially completed at the balance sheet date turnover presents fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Long leasehold

-

4% straight line basis

Plant and machinery

-

33.33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

10 - 33.33% straight line basis

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2019 - 60 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

16,725

At 30 September 2020

16,725

NET BOOK VALUE

At 30 September 2020

16,725

6.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 October 2019

439,187

55,344

16,815

Additions

-

5,389

-

Disposals

-

-

-

At 30 September 2020

439,187

60,733

16,815

DEPRECIATION

At 1 October 2019

42,540

1,570

10,297

Charge for year

8,784

4,306

2,309

Eliminated on disposal

-

-

-

At 30 September 2020

51,324

5,876

12,606

NET BOOK VALUE

At 30 September 2020

387,863

54,857

4,209

At 30 September 2019

396,647

53,774

6,518

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2019

65,867

4,700

251,365

833,278

Additions

23,785

-

91,996

121,170

Disposals

(2,222

)

(4,700

)

(136,595

)

(143,517

)

At 30 September 2020

87,430

-

206,766

810,931

DEPRECIATION

At 1 October 2019

37,676

4,700

218,581

315,364

Charge for year

15,357

-

28,831

59,587

Eliminated on disposal

(2,222

)

(4,700

)

(135,636

)

(142,558

)

At 30 September 2020

50,811

-

111,776

232,393

NET BOOK VALUE

At 30 September 2020

36,619

-

94,990

578,538

At 30 September 2019

28,191

-

32,784

517,914

7.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

644,441

289,715

Amounts owed by group undertakings

1,163,674

313,674

Other debtors

108,283

141,143

Amounts owed by related party

370,000

177,037

Deferred tax asset

-

100,829

Prepayments and accrued income

89,100

92,110

2,375,498

1,114,508

Amounts falling due after more than one year:

Other debtors

62,000

124,000

Aggregate amounts

2,437,498

1,238,508

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

1,142

1,062

Trade creditors

150,993

92,828

Corporation tax

70,225

-

Social security and other taxes

57,655

91,978

VAT

475,332

334,957

Other creditors

22,449

6,397

Pension contributions

18,455

17,613

Accruals and deferred income

2,986,053

2,267,609

3,782,304

2,812,444

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

4,125

5,175

Accruals and deferred income

1,139,175

1,078,666

1,143,300

1,083,841

10.	OTHER FINANCIAL COMMITMENTS

The company at the year end had future other financial commitments of £29,866 (2019: £34,738)

11.	RELATED PARTY DISCLOSURES

Included in debtors is a balance of £370,000 (2019: £175,000) owed by a Director (2019: former Director). Interest has been charged on the amounts due at the current year end at the approved government rate.

12.	NAME OF PARENT COMPANY

The parent company is Clarity Informatics Topco Limited.