Registration number:
Clearvac Group Limited
for the Year Ended 30 September 2023
Clearvac Group Limited
(Registration number: 10225045)
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Clearvac Group Limited
(Registration number: 10225045)
Company Information
Directors |
Mr R P Flynn Mr N A Jones Mr M R Fisher Mr D Salter |
Registered office |
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Accountants |
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Clearvac Group Limited
(Registration number: 10225045)
Balance Sheet as at 30 September 2023
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2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors (due within one year) |
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Debtors (due over one year) |
108,401 |
286,719 |
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Creditors: Amounts falling due within one year |
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( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Clearvac Group Limited
(Registration number: 10225045)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Clearvac Group Limited
(Registration number: 10225045)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Clearvac Group Limited
(Registration number: 10225045)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
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Cost or valuation |
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At 1 October 2022 |
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Additions |
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At 30 September 2023 |
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Provision |
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Provision |
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Carrying amount |
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At 30 September 2023 |
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At 30 September 2022 |
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Debtors |
Note |
2023 |
2022 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Less non-current portion |
( |
( |
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Total current trade and other debtors |
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Details of non-current trade and other debtors
£108,401 (2022 - £286,719) of amounts due from group undertakings is classified as non current.
Clearvac Group Limited
(Registration number: 10225045)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Creditors |
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2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accrued expenses |
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Creditors due within one year include loans and borrowings of £100,000 (2022: £100,000) on which security has been given by the company.
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2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Creditors due after one year include loans and borrowings of £175,000 (2022: £275,000) on which security has been given by the company.
Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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Other borrowings |
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2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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The company's loan is secured by means of a fixed and floating charge over the company's assets; debentures; and an unlimited inter company guarantee between the company and its subsidiaries.