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REGISTERED NUMBER: 14005964 (England and Wales)















Clears Yard Developments Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Clears Yard Developments Limited (Registered number: 14005964)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Clears Yard Developments Limited

Company Information
for the year ended 31 December 2023







Director: C Green





Registered office: 3c High Street
Esher
Surrey
KT10 9RL





Registered number: 14005964 (England and Wales)






Clears Yard Developments Limited (Registered number: 14005964)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Current assets
Stocks 5,583,156 3,301,149
Debtors 4 75,323 159,951
Cash at bank 2,528 73,148
5,661,007 3,534,248
Creditors
Amounts falling due within one year 5 5,661,006 3,534,247
Net current assets 1 1
Total assets less current liabilities 1 1

Capital and reserves
Called up share capital 6 1 1
Shareholders' funds 1 1

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2023 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 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 director and authorised for issue on 12 March 2024 and were signed by:





C Green - Director


Clears Yard Developments Limited (Registered number: 14005964)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Clears Yard Development 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 financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Related party exemption
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Stocks
Stocks represent property sites that the Company has acquired for resale and are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of the purchase price of the sites, professional fees, financing fees, interest charges and development fees relating to the sites.

At the reporting date each project site is reviewed for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in the Income Statement. Reversals of impairment losses are also recognised in the Income Statement.

Where amounts are carried in stocks but the decision is taken that the project will not go ahead, such costs are treated as abortive costs and recognised in the Company's Income Statement under the cost of sales heading in the period in which the decision is taken.

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.

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 includes loans from fellow group and related companies, 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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Clears Yard Developments Limited (Registered number: 14005964)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The current economic conditions, present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

After making enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

3. Employees and directors

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

4. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings - 24,532
Other debtors 75,323 135,419
75,323 159,951

Clears Yard Developments Limited (Registered number: 14005964)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 81,381 -
Amounts owed to group undertakings 2,320,552 2,065,334
Other creditors 3,259,073 1,468,913
5,661,006 3,534,247

6. Called up share capital

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £ £
1 Share capital 1 £1 1 1

7. Related party disclosures

During the year the Company entered into the following transactions with related parties:

Included in other debtors at the Balance Sheet date was an amount of £44,313 (2022 - £119,500) owed from companies under common control.

Included in other creditors at the Balance Sheet date was an amount of £571,409 (2022 - £NIL) owed to companies under common control.

8. Ultimate controlling party

The controlling party is Oakwood Real Estate Limited.

The ultimate controlling party is C Green.