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REGISTERED NUMBER: 13517364 (England and Wales)













Unaudited Financial Statements

for the Period 1 August 2022 to 30 June 2023

for

Clarence Gate Gardens (Freehold) Limited

Clarence Gate Gardens (Freehold) Limited (Registered number: 13517364)






Contents of the Financial Statements
for the Period 1 August 2022 to 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clarence Gate Gardens (Freehold) Limited

Company Information
for the Period 1 August 2022 to 30 June 2023







DIRECTORS: A C Buckmaster
Dr M Dries
S C Carter
R Maran
Miss P R Shah
J J R Smith
J K J Swallow





REGISTERED OFFICE: Clarence Gate Gardens
Block 3 Clarence Gate Gardens
Glentworth Street
London
NW1 6QR





REGISTERED NUMBER: 13517364 (England and Wales)





ACCOUNTANTS: Elliotts Shah
Chartered Accountants
4th Floor
167 Fleet Street
London
EC4A 2EA

Clarence Gate Gardens (Freehold) Limited (Registered number: 13517364)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,023,128 1,023,128

CURRENT ASSETS
Debtors 5 24,696 15,693
Cash at bank 391,224 553,923
415,920 569,616
CREDITORS
Amounts falling due within one year 6 7,436 8,875
NET CURRENT ASSETS 408,484 560,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,431,612

1,583,869

CREDITORS
Amounts falling due after more than one
year

7

974,529

1,145,529
NET ASSETS 457,083 438,340

CAPITAL AND RESERVES
Called up share capital 8 171 171
Other reserves 9 430,942 430,942
Retained earnings 9 25,970 7,227
SHAREHOLDERS' FUNDS 457,083 438,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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.

Clarence Gate Gardens (Freehold) Limited (Registered number: 13517364)

Balance Sheet - continued
30 June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by:





J K J Swallow - Director


Clarence Gate Gardens (Freehold) Limited (Registered number: 13517364)

Notes to the Financial Statements
for the Period 1 August 2022 to 30 June 2023

1. STATUTORY INFORMATION

Clarence Gate Gardens (Freehold) 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.

Going Concern
The financial statements have been prepared on the going concern basis, the validity of which depends on the ability of the company to meet its obligations as they fall due. The Directors believe that with the cash on deposit and its forecast profits and operating cash flows, the company will be able to meet its financial obligations as they fall due for at least 12 months.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rental income receivable and ground rents receivable in the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property - None

Freehold property is recognised at the transaction cost including directly attributable costs of acquisition. Freehold property is subsequently measured at cost less depreciation and impairment.

Financial instruments
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 measure at the present value of the future receipts discounted ta a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as amounts due in more that 1 year.


Clarence Gate Gardens (Freehold) Limited (Registered number: 13517364)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 30 June 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 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 period 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold
Property
£   
COST
At 1 August 2022
and 30 June 2023 1,023,128
NET BOOK VALUE
At 30 June 2023 1,023,128
At 31 July 2022 1,023,128

The freehold property is not depreciated as the directors have reviewed the carrying value of the freehold property at 30 June 2023 and determined that there is no impairment to its value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 24,298 15,693
Prepayments 398 -
24,696 15,693

Clarence Gate Gardens (Freehold) Limited (Registered number: 13517364)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 4,396 1,695
Other creditors 640 640
Accrued expenses 2,400 6,540
7,436 8,875

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Shareholders' Loan 974,529 1,145,529

The shareholders loans are interest free and repayable at the Directors discretion. The loans were originally raised in line with the terms of the Participating Agreement and have been adjusted for the £171 subscribed shares.

In the period, £171,000 in total was repaid to shareholders by way of a credit of £1,000 to each participating shareholder's service charges demanded in the first quarter of 2023.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
171 Ordinary £1 171 171

In the period, 171 ordinary shares of £1 each were issued to the leaseholders of the freehold property. The shares of the same class were issued at par and rank pari passu in all respects.

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 August 2022 7,227 430,942 438,169
Profit for the period 18,743 18,743
At 30 June 2023 25,970 430,942 456,912

10. ULTIMATE CONTROLLING PARTY

There is no individual who holds a majority of the shares in the company.