Clear IT Recruitment Limited
Clear IT Recruitment Limited
Registered number: 7437769
Unaudited Financial Statements
For The Year Ended
31 December 2020
Graver & Co Ltd
Clear IT Recruitment Limited
Unaudited Financial Statements
For The Year Ended
31 December 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Clear IT Recruitment Limited
Balance Sheet
As at
31 December 2020
Balance Sheet
Registered number:
7437769
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 5 |
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| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Stocks | 7 |
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| Debtors | 8 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 9 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 10 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 118,246 | 75,136 | |||
Page 1
Clear IT Recruitment Limited
Balance Sheet (continued)
As at
31 December 2020
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Clear IT Recruitment Limited
Notes to the Financial Statements
For The Year Ended
31 December 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. All income is derived from activities within the UK.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2020 | 2019 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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Page 3
Clear IT Recruitment Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
5.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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6.
Tangible Assets
| Computer Equipment | |
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| £ | |
| Cost | |
| As at
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| Additions |
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| Depreciation | |
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| Provided during the period |
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| Net Book Value | |
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7.
Stocks
| 2020 | 2019 | ||
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| £ | £ | ||
| Stock - work in progress |
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Page 4
Clear IT Recruitment Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
8.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Due after more than one year | |||
| Directors loan account |
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9.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| VAT |
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10.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Directors loan account |
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Page 5
Clear IT Recruitment Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
12.
Directors Advances, Credits and Guarantees
Included within Debtorss are the following loans to directors (Creditor 2019):
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Paul Watts |
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The above loan is unsecured, interest free and repayable on demand.
13.
Dividends
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 80,000 | 80,000 | ||
14.
Ultimate Controlling Party
The company's ultimate controlling party are the directors by virtue of their ownership of 100% of the issued share capital in the company.
Page 6