Company Registration No. 01784741 (England and Wales)
CLEAR SYSTEMS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2015
CLEAR SYSTEMS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CLEAR SYSTEMS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2015
31 July 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,132
2,114
Current assets
Debtors
706
2,846
Cash at bank and in hand
13,157
11,102
13,863
13,948
Creditors: amounts falling due within one year
(12,351)
(12,495)
Net current assets
1,512
1,453
Total assets less current liabilities
3,644
3,567
Provisions for liabilities
(124)
(73)
3,520
3,494
Capital and reserves
Called up share capital
3
300
300
Profit and loss account
3,220
3,194
Shareholder's funds
3,520
3,494
For the financial year ended 31 July 2015 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 year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 October 2015
N.J. Rogers
Director
Company Registration No. 01784741
CLEAR SYSTEMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Know-how
Acquired know-how is written off in equal annual instalments over its estimated useful economic life.
1.5
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 less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing balance and straight line
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
CLEAR SYSTEMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 August 2014
5,000
4,715
9,715
Additions
-
729
729
At 31 July 2015
5,000
5,444
10,444
Depreciation
At 1 August 2014
5,000
2,601
7,601
Charge for the year
-
711
711
At 31 July 2015
5,000
3,312
8,312
Net book value
At 31 July 2015
-
2,132
2,132
At 31 July 2014
-
2,114
2,114
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
150 Ordinary shares of £1 each
150
150
150 A, B and C Ordinary Shares of £1 each
150
150
300
300
The 'A', 'B'
and
'C' Ordinary shares are non voting shares and confer an entitlement to the repayment of par value only on a winding up.