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REGISTERED NUMBER: 07501674 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED

CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED (REGISTERED NUMBER: 07501674)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr S J G Neilly
Mr G J Neilly





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 07501674 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED (REGISTERED NUMBER: 07501674)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 53,261 59,678
Cash at bank 31 521
53,292 60,199
CREDITORS
Amounts falling due within one year 5 8,077 8,064
NET CURRENT ASSETS 45,215 52,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,215

52,135

CREDITORS
Amounts falling due after more than one
year

6

438,189

443,074
NET LIABILITIES (392,974 ) (390,939 )

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 (393,074 ) (391,039 )
SHAREHOLDERS' FUNDS (392,974 ) (390,939 )

CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED (REGISTERED NUMBER: 07501674)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:





Mr S J G Neilly - Director


CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED (REGISTERED NUMBER: 07501674)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Clearwater Land and New Homes (Newtown) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

Following the outcome of legal proceedings in the High Court of Justice the company has not traded, but has ceased to be dormant to give effect to the Tomlin Order under which various claims and counter claims affecting the company have been consolidated under claim number HC -2015-001272 and has directed the disposition of the company's assets and liabilities.

Going concern
The company's balance sheet shows a net deficit shareholders fund position. However, the director's have received confirmation from the principal creditor of their continued financial support for the foreseeable future and for at least twelve months from the date of signature of these accounts.

CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED (REGISTERED NUMBER: 07501674)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment is discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by related parties 53,261 59,678

CLEARWATER LAND AND NEW HOMES (NEWTOWN)
LIMITED (REGISTERED NUMBER: 07501674)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,667 6,667
Directors' current accounts 653 640
Accruals and deferred income 13 13
Accrued expenses 744 744
8,077 8,064

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 38,189 43,074
Other creditors 400,000 400,000
438,189 443,074

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 February 2022 (391,039 )
Deficit for the year (2,035 )
At 31 January 2023 (393,074 )

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £53,261 (2022: £59,678) by Clearwater Land & New Homes Ltd.

10. ULTIMATE CONTROLLING PARTY

At the balance sheet date, the company was under the control of Mr S J G Neilly by the virtue of 70% shareholding.