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Registration number: 05724559

45-47 Clarence Street Cheltenham Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

45-47 Clarence Street Cheltenham Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

45-47 Clarence Street Cheltenham Limited

Company Information

Director

Mr T Roberts

Registered office

Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

Accountants

Regulatory Accounting Ltd
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

45-47 Clarence Street Cheltenham Limited

(Registration number: 05724559)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Stocks

467,455

467,455

Debtors

5

1,652

426,861

Cash at bank and in hand

 

582,367

4,527

 

1,051,474

898,843

Creditors: Amounts falling due within one year

6

(622,471)

(475,312)

Net current assets

 

429,003

423,531

Total assets less current liabilities

 

429,004

423,532

Creditors: Amounts falling due after more than one year

6

(525,000)

(525,000)

Net liabilities

 

(95,996)

(101,468)

Capital and reserves

 

Called up share capital

3

3

Profit and loss account

(95,999)

(101,471)

Shareholders' deficit

 

(95,996)

(101,468)

 

45-47 Clarence Street Cheltenham Limited

(Registration number: 05724559)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 August 2022
 

.........................................

Mr T Roberts
Director

 

45-47 Clarence Street Cheltenham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The presentational currency of these financial statements is shown in Pound Sterling and rounded to the nearest pound (£).

The address of its registered office is:
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE
England

The principal place of business is:
The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT
England

These financial statements were authorised for issue by the director on 18 August 2022.

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

These financial statements have been prepared on a going concern basis. The ongoing pandemic has had impacts upon the industry and the wider economy. The director has aknowledged this and recognises this may impact the company in the coming years. However he feels that the company has the ability to continue trading for the foreseeable future.

 

45-47 Clarence Street Cheltenham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises on a monthly basis in line with the rental agreement and when properties are sold.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are set up only where probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Financial instruments

Classification
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

 

45-47 Clarence Street Cheltenham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Investments

2021
£

2020
£

Investments in associates

1

1

Associates

£

Cost

At 1 January 2021

1

Provision

Carrying amount

At 31 December 2021

1

At 31 December 2020

1

5

Debtors

Note

2021
£

2020
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

-

424,999

Prepayments

 

1,652

1,862

 

1,652

426,861





 

 

45-47 Clarence Street Cheltenham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Taxation and social security

90

2,931

Accruals and deferred income

1,626

1,626

Other creditors

620,755

470,755

622,471

475,312

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

525,000

525,000

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Other borrowings

525,000

525,000

Included in the loans and borrowings are the following amounts due after more than five years:

Debenture loans after five years

The company has legal mortgages with Clydesdale Bank PLC which are secured over the premises.

 

45-47 Clarence Street Cheltenham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

8

Related party transactions

Transactions with directors

2021

At 1 January 2021
£

Repayments by director
£

At 31 December 2021
£

Mr T Roberts

Net deposits

470,755

150,000

620,755

       
     

 

2020

At 1 January 2020
£

Advances to directors
£

Repayments by director
£

At 31 December 2020
£

Mr T Roberts

Net deposits

470,755

(225,000)

225,000

470,755

         
       

 

No interest is charged on the above loans.