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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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CLEAR LEGAL MARKETING LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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FOR |
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CLEAR LEGAL MARKETING LIMITED |
CLEAR LEGAL MARKETING LIMITED (REGISTERED NUMBER: 07933243) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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CLEAR LEGAL MARKETING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
6 Claremont Buildings |
Claremont Bank |
Shrewsbury |
Shropshire |
SY1 1RJ |
CLEAR LEGAL MARKETING LIMITED (REGISTERED NUMBER: 07933243) |
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BALANCE SHEET |
30 SEPTEMBER 2020 |
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30.9.20 | 30.9.19 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CLEAR LEGAL MARKETING LIMITED (REGISTERED NUMBER: 07933243) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Clear Legal Marketing Limited is a
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are for the individual entity only. |
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The financial statements are presented in sterling (£), rounded to the nearest £1. |
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Turnover |
Turnover represents amounts derived from the provision of services to clients during the year, excluding discounts, rebates, value added tax and other sales taxes and including estimates of amounts not invoiced. Revenue in respect of long-term contracts and contracts for on-going services is recognised in the income statement by reference to the stage of completion at the period end, provided that a right to consideration has been obtained through performance. Consideration accrues as contract activity progresses by reference to the value of work performed. |
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Financial instruments |
(i) Financial assets |
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Basic financial assets, including trade receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit or loss. |
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Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other payables are initially recognised at transaction price and subsequently carried at amortised cost. |
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Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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CLEAR LEGAL MARKETING LIMITED (REGISTERED NUMBER: 07933243) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Costs related to case leads have been prepaid and are released to profit and loss account every six months. |
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Grants of a revenue nature are recognised in income over the period in which the company recognises the related costs, for which the grant is intended to compensate. |
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During the year, the company received government grants of £16,170 under the Coronavirus Job Retention Scheme (CJRS), which is recognised in income. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Trade debtors |
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Amounts owed by related entities |
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Other debtors |
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Amounts held on behalf of clients |
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VAT |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT |
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Other creditors |
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Amounts due to clients |
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Accrued expenses |
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CLEAR LEGAL MARKETING LIMITED (REGISTERED NUMBER: 07933243) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.20 | 30.9.19 |
£ | £ |
Bank loans - 2-5 years |
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8. | RELATED PARTY DISCLOSURES |
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Included within debtors due within one year is a balance of 13,350 (2019: £3,775) due from Clear Law LLP, a business controlled by M Corbett. |
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Included within debtors due within one year in a balance of 18,839 (2019:Nil) due from Clear Legal Limited, a business controlled by M Corbett. |
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During the year, Clear Legal Marketing Limited incurred management charges of £90,342 (2019: £77,500) from Clear Law LLP and expenses of £1,015 from Clear Legal Limited. |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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