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Registration number: 13137881

Cluny Mews Developments Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Cluny Mews Developments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Cluny Mews Developments Limited

(Registration number: 13137881)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

100

-

Current assets

 

Stocks

5

33,949,647

17,190,449

Debtors

6

2,822,004

78,425

Cash at bank and in hand

 

5,015

7,359

 

36,776,666

17,276,233

Creditors: Amounts falling due within one year

7

(25,991,107)

(836,942)

Net current assets

 

10,785,559

16,439,291

Total assets less current liabilities

 

10,785,659

16,439,291

Creditors: Amounts falling due after more than one year

7

(10,783,892)

(16,440,813)

Net assets/(liabilities)

 

1,767

(1,522)

Capital and reserves

 

Called up share capital

800

800

Retained earnings

967

(2,322)

Shareholders' funds/(deficit)

 

1,767

(1,522)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

.........................................
Mr SA Ismail
Director

 

Cluny Mews Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Unit 3 Birchwood One Business Park Dewhurst Road
Birchwood
Warrington
WA3 7GB
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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

The financial statements have been prepared on a going concern basis, which assumes that the company will be able to continue with the developments undertaken for the foreseeable future.

The validity of the going concern basis is dependant upon the company managing the risks of the business.

The company have prepared a budget, and this forecasts a strong performance on the entirety of the project and significant cash availability from the shareholders of the business for the forecasted length of the project from the date of signing. On this basis the directors consider it appropriate to prepare financial statements on a going concern basis.

 

Cluny Mews Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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 revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 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

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs, borrowing costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Cluny Mews Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

100

-

Subsidiaries

£

Cost or valuation

Additions

100

Carrying amount

At 31 March 2023

100

5

Stocks

2023
£

2022
£

Work in progress

33,949,647

17,190,449

 

Cluny Mews Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Current

2023
£

2022
£

Amounts owed by related parties

200

-

Other debtors

 

2,821,804

78,425

 

2,822,004

78,425

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

969,644

811,442

Owed to related parties

22,117,563

-

Accruals and deferred income

51,435

2,000

Other creditors

2,852,465

23,500

25,991,107

836,942

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Owed to related parties

10,783,892

16,440,813