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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2021 |
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CLEAN DISPLAY LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2021 |
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FOR |
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CLEAN DISPLAY LTD |
CLEAN DISPLAY LTD (REGISTERED NUMBER: SC659105) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CLEAN DISPLAY LTD |
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COMPANY INFORMATION |
for the Year Ended 31 October 2021 |
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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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6 Miller Road |
Ayr |
KA7 2AY |
CLEAN DISPLAY LTD (REGISTERED NUMBER: SC659105) |
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BALANCE SHEET |
31 October 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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CLEAN DISPLAY LTD (REGISTERED NUMBER: SC659105) |
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BALANCE SHEET - continued |
31 October 2021 |
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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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CLEAN DISPLAY LTD (REGISTERED NUMBER: SC659105) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2021 |
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1. | STATUTORY INFORMATION |
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Clean Display Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Functional currency |
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound. |
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Significant judgements and estimates |
The preparation of financial statements requires the use of certain accounting estimates. It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below: |
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Change in reporting period and impact on comparability |
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The financial statements for the current accounting year are from 01 November 2020 to 31 October 2021. The comparative amounts (including the related notes) presented in the financial statements are for a period less than one year and therefore not entirely comparable. |
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Estimation Uncertainty |
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Recoverability of Debtors |
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
CLEAN DISPLAY LTD (REGISTERED NUMBER: SC659105) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Classification |
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company |
recognises these in accordance with Section 11 of the Financial Reporting Standard. |
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Recognition and measurement |
The company's debt instruments are measured at amortised cost using the effective interest rate method. |
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Impairment |
Financial instruments are reviewed annually for impairment. |
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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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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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CLEAN DISPLAY LTD (REGISTERED NUMBER: SC659105) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2021 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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7. | RESERVES |
Retained |
earnings |
£ |
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At 1 November 2020 | ( |
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Profit for the year |
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At 31 October 2021 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the year ended 31 October 2021 and the period ended 31 October 2020: |
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2021 | 2020 |
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**UNKNOWN DIRECTOR 1** |
Balance outstanding at start of year | 24,000 | - |
Amounts advanced | 31,000 | 24,000 |
Amounts repaid | (101,000 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | (46,000 | ) | 24,000 |
CLEAN DISPLAY LTD (REGISTERED NUMBER: SC659105) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2021 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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**UNKNOWN DIRECTOR 2** |
Balance outstanding at start of year | 21,000 | - |
Amounts advanced | - | 21,000 |
Amounts repaid | (20,000 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 1,000 | 21,000 |
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9. | RELATED PARTY DISCLOSURES |
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During the year company has made sale of £39,167 (2020: £3,752) to Urban Kandi Ltd, a closely related company on account of directorship and 100% shareholding of Mr R K Campbell in Urban Kandi Ltd. As on the balancesheet date there are no outstanding dues from Urban Kandi Ltd. |