Clearwest Limited - Period Ending 2015-03-31

Registration number: 01449687

Clearwest Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Clearwest Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Clearwest Limited
(Registration number: 01449687)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Investments					15,597			15,597
Current assets
Debtors					290,544			288,237
Cash at bank and in hand					2,566			1,066
					293,110			289,303
Creditors: Amounts falling due within one year					(161,835)			(114,309)
Net current assets					131,275			174,994
Net assets					146,872			190,591
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					146,772			190,491
Shareholders' funds					146,872			190,591

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 13 September 2016

.........................................
Mr Anthony Antoniades
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Clearwest Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Investments £			Total £
Cost
At 1 April 2014		15,597			15,597
At 31 March 2015		15,597			15,597
Depreciation
At 31 March 2015		-			-
Net book value
At 31 March 2015		15,597			15,597
At 31 March 2014		15,597			15,597

Page 2

Clearwest Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
International Programming & Systems Inc	US	Common Stock	100%	IT and professional services
Eurolink Australia Pty Ltd	Australia	Ordinary	100%	Consultancy

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

4

Control

The company is controlled by Mercator Nominees Ltd by virtue of the fact that it owns 99% of the issued share capital. The ultimate controlling party is Anthony George Antoniades Settlement Trust.

5	Going concern

The director has reviewed the twelve months ahead and considered the company's financial position and notes no material uncertainties that may cast significant doubt about the ability of it to continue as a going concern.

Page 3