Company No: 07000964 (England and Wales)

Contents

• Balance Sheet
• Notes to the Unaudited Financial Statements

		2021		2020
	Note	£		£
Fixed assets
Tangible assets	3	1,401		1,381
		1,401		1,381
Current assets
Debtors	4	139,405		928,248
Cash at bank and in hand		1,978,430		797,817
		2,117,835		1,726,065
Creditors
Amounts falling due within one year	5	( 107,476)		( 132,268)
Net current assets		2,010,359		1,593,797
Total assets less current liabilities		2,011,760		1,595,178
Net assets		2,011,760		1,595,178
Capital and reserves
Called-up share capital		4		4
Profit and loss account		2,011,756		1,595,174
Total shareholders' funds		2,011,760		1,595,178

For the financial year ending 05 April 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Clear Pen Solutions Ltd (registered number: 07000964) were approved and authorised for issue by the Director on 29 October 2021. They were signed on its behalf by:

Stephen John Yandle Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clear Pen Solutions Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Red Stacks The Highlands, East Horsley, Leatherhead, KT24 5BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment

3

years

Straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 06 April 2020	3,964		3,964
Additions	932		932
At 05 April 2021	4,896		4,896
Accumulated depreciation
At 06 April 2020	2,583		2,583
Charge for the financial year	912		912
At 05 April 2021	3,495		3,495
Net book value
At 05 April 2021	1,401		1,401
At 05 April 2020	1,381		1,381

4. Debtors

	2021		2020
	£		£
Trade debtors	139,329		116,331
Other debtors	76		811,917
	139,405		928,248

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Other creditors	3,401		1,390
Corporation tax	101,361		101,873
Other taxation and social security	2,714		29,005
	107,476		132,268

6. Related party transactions

Transactions with the entity's director

Advances

The director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 6 April 2020, the balance was £804,955. During the year, £761,179 was advanced to the director, and £(1,568,144) was repaid by the director. The balance at 5 April 2021 was £(2,010).

At 6 April 2019, the balance was £(3,107). During the year, £809,935 was advanced to the director, and £(1,873) was repaid by the director. The balance at 5 April 2020 was £804,955.