Clearview Ventures Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 06493488 (England and Wales)

CLEARVIEW VENTURES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

T F Forster

SECRETARY:

Ms J J Rutherford

REGISTERED OFFICE:

41B Brixworth Road

Spratton

Northampton

Northamptonshire

NN6 8HH

REGISTERED NUMBER:

06493488 (England and Wales)

ACCOUNTANTS:

Haines Watts Northamptonshire Limited

26-28 Headlands

Kettering

Northamptonshire

NN15 7HP

FIXED ASSETS

Tangible assets

4

16,456

19,567

CURRENT ASSETS

Debtors

5

14,806

17,116

Cash at bank

58,321

41,467

73,127

58,583

CREDITORS

Amounts falling due within one year

6

18,917

11,638

NET CURRENT ASSETS

54,210

46,945

TOTAL ASSETS LESS CURRENT LIABILITIES

70,666

66,512

PROVISIONS FOR LIABILITIES

3,333

3,914

NET ASSETS

67,333

62,598

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

67,332

62,597

SHAREHOLDERS' FUNDS

67,333

62,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 7 April 2017 and were signed by:

T F Forster - Director

1.	STATUTORY INFORMATION

Clearview Ventures Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

In accordance with the principles of revenue recognition as stated in FRS 102, turnover is calculated by

reference to the stage of completion of the transaction as at the end of the accounting period, including

estimates of amounts not yet invoiced.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted

or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2016

23,936

4,977

28,913

Additions

-

2,932

2,932

Disposals

-

(2,460

)

(2,460

)

At 28 February 2017

23,936

5,449

29,385

DEPRECIATION

At 1 March 2016

5,984

3,362

9,346

Charge for year

4,488

1,140

5,628

Eliminated on disposal

-

(2,045

)

(2,045

)

At 28 February 2017

10,472

2,457

12,929

NET BOOK VALUE

At 28 February 2017

13,464

2,992

16,456

At 29 February 2016

17,952

1,615

19,567

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

8,437

8,498

Directors' current accounts

6,369

8,618

14,806

17,116

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

9,801

3,827

Social security and other taxes

1,016

151

VAT

3,855

5,628

Other creditors

2,720

232

Accruals and deferred income

1,525

1,800

18,917

11,638

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

1

1

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2017 and

29 February 2016:

2017

2016

£

£

T F Forster

Balance outstanding at start of year

8,618

-

Amounts advanced

6,369

8,618

Amounts repaid

(8,618

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,369

8,618

The Directors' loan account is interest free, unsecured and repayable on demand.

The Director's loan account balance was repaid within 9 months of the year end date.

9.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the period ended 28 February 2017.

The effect of the transition from the previous financial reporting framework to FRS 102 has been considered.

There has been no material impact in relation to the following:

- changes in accounting policies

- changes in shareholders funds

- comparative year profit or loss

On that basis, no restatement has been undertaken.