Clearview International Ltd - Accounts to registrar (filleted) - small 18.2
Clearview International Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2019 to 30 June 2020 |
for |
Clearview International Ltd |
Clearview International Ltd (Registered number: 09925796) |
Contents of the Financial Statements |
for the Period 1 January 2019 to 30 June 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Clearview International Ltd |
Company Information |
for the Period 1 January 2019 to 30 June 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Airport House |
Suite 43-45 |
Purley Way |
Croydon |
CR0 0XZ |
Clearview International Ltd (Registered number: 09925796) |
Balance Sheet |
30 June 2020 |
2020 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 6 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
Clearview International Ltd (Registered number: 09925796) |
Notes to the Financial Statements |
for the Period 1 January 2019 to 30 June 2020 |
1. | STATUTORY INFORMATION |
Clearview International Ltd is a |
company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company continued to be that of the sound recording and music publishing activities. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
TAXATION |
The tax expense represents the tax currently payable. |
CURRENT TAX |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported |
in the profit and loss account because it excludes items of income or expense that are taxable or deductible in |
other years and it further excludes items that are never taxable or deductible. The company’s liability for current |
tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
FOREIGN EXCHANGE |
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of |
exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the |
date of the transaction. All differences are taken to profit and loss account. |
GOING CONCERN |
At the time of approving the financial statements, the directors have a reasonable expectation that the company |
has adequate resources to continue in operational existence for the foreseeable future. Thus the directors |
continue to adopt the going concern basis of accounting in preparing the financial statements and will continue to |
support the company financially. |
FINANCIAL INSTRUMENTS |
The company only enters into basic financial transactions that result in recognition of financial assets and |
liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related |
parties and investments in non-puttable ordinary shares. |
PROVISION FOR LIABILITY |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation |
that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the |
amount of the obligation. |
Provisions are charged as an expense to the Statement of Income and retained earnings in the year that the |
Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the |
expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the Balance sheet. |
Clearview International Ltd (Registered number: 09925796) |
Notes to the Financial Statements - continued |
for the Period 1 January 2019 to 30 June 2020 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2018 |
£ | £ |
Trade debtors |
Directors' current accounts | 100 | - |
Called up share capital not paid |
Prepayment |
Accrued Income |
The directors consider the carrying value of trade and other receivables approximate to their fair values. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2018 |
£ | £ |
Trade creditors |
Corporation tax payable |
VAT | 4,835 | - |
Westside Enterprise Ltd | 48 | - |
Accruals |
The directors consider the carrying value of trade and other receivables approximate to their fair values. |
6. | RESERVES |
Profit and loss reserves |
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any |
distributions made to the company's shareholders. This is a distributable reserve. |
7. | RELATED PARTY DISCLOSURES |
At the balance sheet date included in other debtors were amounts due from Laurance John Adams £51 and due |
from George Frederick Kimpton £ 49 the directors of the company. |
As at the balance sheet date, included in other creditors is amount due to £48 due to Westside Enterprise Ltd a |
company under common control. |
During the year, royalty expense of £68,944 were paid to Burning Girl Productions Ltd, a company owned and |
controlled by the director George Frederick Kimpton. |
8. | POST BALANCE SHEET EVENTS |
Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on |
businesses worldwide. As a result some business operations have been restricted, however the company |
continues to operate using alternative methods and remote working. The directors are unable to evaluate the |
overall financial impact on the business at present. Hence financial statements do not include any adjustments |
that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to |
the current changing environment in order to position the company to ensure its future success. |